HSBC, IFC to Open Joint Fund for Bond Issuers in Emerging Markets

MT Newswires Live10-03 16:54

HSBC's (HKG:0005) asset management unit will work with the World Bank's International Finance Corp. to open a joint fund for corporate bond issuers in emerging markets, according to a statement by IFC released Wednesday.

The fund will carry an Article 9 sustainability designation by the European Union, the strictest sustainability designation, in line with HSBC's global emerging market corporate sustainable bond strategy, the IFC said.

The new fund will help raise capital for emerging market issuers to help them attain sustainable goals, according to the IFC.

Alignment with Article 9 regulations emphasizes "issuer-level sustainability and transparency beyond just an issuance's use-of-proceeds," Mohamed Gouled, Vice President of Industries at the IFC, said in the statement.

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