PM to launch green Eurobond today formally: Farrukh
Associated Press Of Pakistan
ISLAMABAD, May 31 —Minister of State for Information and Broadcasting Farrukh Habib Monday said Prime Minister Imran Khan would formally launch the first-ever green Eurobond shortly (today).
In a series of tweets, he said the Water and Power Development Authority (WAPDA) had floated its first green Eurobond (Indus bond) in the London Stock Exchange Market this week.
He said WAPDA had taken the initiative for financing of both the Diamer-Basha and Mohmand dams. The bond was issued on the basis of WAPDA’s stable financial position instead of sovereign guarantee, he added.
Farrukh said the bond was launched to raise $500 million, but it had attracted multiple bids amounting to around three billion dollars.
The bond has received an extraordinary response in the international financial market which has opened up new vistas for financing of mega projects in Pakistan.