Sunday, January 29, 2023 – 5:40 PM
Vienna, January 29 / WAM / The OPEC Fund for International Development (Ovid) has succeeded in raising $1 billion, the proceeds of the sale of the first bonds offered by the Fund under the name of “Sustainable Development” bonds, to contribute to financing projects to achieve the goals of sustainable development.
A statement issued by the Fund’s headquarters in the Austrian capital, Vienna, said that the bond period is three years, with an interest rate of 4.5%. It is an attractive factor for investors looking to use their resources in more environmentally and socially beneficial ways.
Dr. Abdul Hamid Al-Khalifa, Director General of OFID, considered that the strong demand for the first bonds offered by the Fund is “a testament to the confidence of investors in the OPEC Fund and a long-term mandate oriented towards development.”
The fund stated that “sustainable development” bonds received great interest, as it appeared in the purchase of central banks and official institutions 62% of the bonds offered, as banks acquired 19%, and financing funds and insurance and pension institutions almost got the rest of the bonds, and the statement also stated that 52% of the bonds. Investors come from Europe, the Middle East and Africa, 27% are from Asia and the Pacific, and the number of investors is from North America, 21%.
Zakaria Mohieldin
