Baku, TurkicWorld:
The Asian Development Bank (ADB) has invested $15 million as an anchor investor in a pioneering 3-year sustainability bond issuance by Joint Stock Company BasisBank (BasisBank), TurkicWorld reports via the ADB.
This bond marks the first certified sustainability bond issued by a commercial bank on the Georgian Stock Exchange, designed to fund green and social sector initiatives.
ADB’s investment forms a significant portion of BasisBank’s $20 million bond issuance, with the remainder raised from private investors. The bond adheres to a sustainability bond framework aligned with the International Capital Market Association’s Sustainability Bond Guidelines, with validation provided by Det Norske Veritas. The issuance was arranged by TBC Capital and Galt & Taggart.
As the fourth-largest bank in Georgia, BasisBank is a leading provider of financing to small and medium enterprises. It manages a loan portfolio of 2,684 million lari and operates through 39 branches, serving approximately 200,000 customers across the country.
