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Laxman Pai, Opalesque Asia: The International Finance Corporation (IFC), the World Bank's private sector arm, and asset manager T Rowe Price plan to create a first-of-its-kind global blue bond strategy to increase access to finance for blue projects in emerging markets.
According to a joint media release, the T. Rowe Price Emerging Markets Blue Economy Bond Strategy aims to attract international capital from investors for supporting blue-labeled investments in global emerging markets facilitated through blue bonds issued by financial institutions and real sector companies.
"The investor capital deployed into blue bonds through T. Rowe Price Blue will make a vital contribution to furthering a blue economy," said Makhtar Diop, IFC Managing Director. "This first-of-its-kind strategy with a dedicated vehicle for blue investment will also be critical in promoting sustainable capital markets in emerging markets and developing economies."
Blue investments seek to provide competitive returns while supporting the health, productivity, and resilience of the world's oceans and water resources, said the release. Momentum is growing for blue finance, with interest from both investors and issuers in blue bonds and loans that fund ocean-friendly projects and safeguard clean water resources.
"We are proud to partner with IFC to further the blue economy," said Rob Sharps, CEO and president of T. Rowe Price. "We're gratified that our emerging markets investment experience...................... To view our full article Click here
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