The International Finance Corp. (IFC) has committed $100 million to Aboitiz-led Union Bank of the Philippines’ first sustainability bond, according to a report by Philstar Biz.
The bond issuance aims to raise funds for expanding financing to small businesses and environmentally sustainable projects. UnionBank’s move aligns with the growing trend of Philippine banks tapping sustainability-linked instruments to support green initiatives and inclusive growth.
The IFC, a member of the World Bank Group, has been a key partner in financing sustainable development in the Philippines. Its participation in UnionBank’s bond underscores international confidence in the country’s banking sector and its transition toward a low-carbon economy.