The financial arm of the World Bank is considering issuing about US$2 billion in bonds to finance environmentally friendly projects in Peru, Pervian Minister of Economy and Finance Alfredo Thorne said on Saturday.
Thorne, during a state television program in which Peruvian President Pedro Pablo Kuczynski interviews various personalities, said the bonds would be used to finance projects such as reforestation in the Amazon.
The International Finance Corp (IFC), an arm of the World Bank, “is thinking of doing an emission of ‘green’ bonds here, and that’s going to give us US$2 billion, more or less,” Thorne said, without giving details of the issuance.
Thorne said that while Peru has not yet developed a reforestation industry, it is receiving help from the World Bank, the Inter-American Development Bank and Norway.
The IFC issued the first “green” bond in the Peruvian market in 2014 for 42 million soles (US$12.83 million).
Nigeria also plans to launch its delayed “green” bond — the first for an emerging market nation — within a few weeks, UN Deputy Secretary-General Amina Mohammed said on Thursday on the sidelines of a UN conference in Mexico on disaster risk reduction.
Mohammed, a former Nigerian minister of environment, told the Thomson Reuters Foundation that proceeds from the sovereign bond — which is expected to raise about 20 billion naira (US$61.54 million) from its first tranche — would be used to fund renewable energy, transport and agriculture projects.
Nigeria’s bond could lay the groundwork for other African nations to follow suit, she added.
“Green” bonds have been around for a decade, but sovereign borrowers had been absent from the market, which was traditionally dominated by international development banks.
The “green” bond market has enjoyed strong growth in the past two years, with issuance jumping 105 percent last year alone to a record US$72 billion, according to data compiled by Thomson Reuters and the Climate Bond Initiative.
Poland and France have both launched sovereign “green” bonds since the end of last year.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion