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Press Release

Korea Eximbank Issues KRW 350 Billion SDG Bond

  • Date2018.12.18
  • View1628

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The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman EUN, Sung-soo, "Korea Eximbank") announced that it successfully issued a KRW 350 billion Sustainable Development Goals (SDG) Bond on December 6.

 

It is the first time that a Korean financial institution has ever issued SDG bond to support the UN’s sustainable development goals. Overseas, the World Bank Group, HSBC, and ANZ issued bonds aligned to the SDGs, each amounting to EUR 160 million, USD 1 billion, and USD 750 million, respectively.

 

The bond is priced at 2.00% (fixed interest rate) with the maturity of 2 years,  and corporate acquirers are KB Securities and Kyobo Securities.

 

SDG bonds are special purpose bonds that raise financing to specifically support the SDGs across the 17 global goals that the UN has mapped out to achieve by 2030.

 

Korea Eximbank will use the proceeds secured by the bond for the projects that contribute to achieving the SGDs in three categories: decent work and economic growth, affordable and clean energy, and good health and well-being.

 

Korea Eximbank’s SDG proceeds bond management system has been reviewed by an external auditor, Samil PricewaterhouseCoopers, with the preliminary verification report on the system delivered on December 3. Information regarding the projects funded with the proceeds of the bond will be posted on the website of Korea Eximbank.

 

Socially Responsible Investing (SRI) is becoming increasingly important in advanced countries such as those in Europe as an investment strategy seeking to consider both financial return and social good, supporting sustainable development initiatives such as economic growth, poverty eradication, and response to climate change.

 

A Korea Eximbank official said, “With the issuance of the SDG bond on the day, we will be able to contribute to the achievement of the UN’s SDGs while strengthening support and alleviating financial burden of Korean export companies.”

 

As a public export credit agency, Korea Eximbank will focus on fulfilling social responsibility by introducing and providing sustainable finance in support of the SDGs, and continue to make efforts to expand SDG financing both in Korea and abroad.

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