BAKU: 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), Trend 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 and 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 acros
s the country.

Source: Trend News Agency