Standard Bank successfully closes USD 300 million Sustainable Tier 2 Capital Loan with IFC
Standard Bank has successfully closed a USD 300 million sustainable Tier 2 capital loan.
The facility, concluded with International Finance Corporation (IFC), marks another significant step towards entrenching Standard Bank’s sustainability commitments.
The funding will be allocated to a portfolio of green and social assets – with a specific focus on renewable energy and affordable housing sub-categories, aligning with the Group’s sustainability strategy and commitments to finance renewable energy power plants and social projects in South Africa and across the continent. The facility is structured as a 10.5-year term loan.
Standard Bank is focused, primarily through its sustainable finance division, on providing financial products and services that support positive sustainability outcomes, including green and social loans and bonds, sustainability-linked loans and bonds, sustainable trade and working capital solutions and impact investing.
This facility, earmarked for green and social projects, particularly renewable energy and affordable housing, is in line with our commitment to support and promote South Africa’s transition to a low-carbon, climate-resilient economy, said Adamou Labara, IFC Country Manager for South Africa, “Our partnership with Standard Bank is a testament to our shared vision of a sustainable future and our dedication to advancing economic growth in the country."
Kenny Fihla, Chief Executive Corporate and Investment Banking at Standard Bank Group said, “The successful conclusion of this USD 300 million sustainable loan provides financial resources to enable the Bank to continue supporting our customers on their Social and Environmental journeys. We are delighted to partner with the IFC and drive positive impact across the continent.”