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Germany will issue this ‘Green Bond’ of up to $ 13B this year

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BERLIN: The German government plans to raise up to 11 billion euros ($ 13 billion) for clean transportation and renewable energy projects this year by issuing so-called green bonds, officials said on Monday.
The move is part of an effort to meet the demand for environmentally friendly investment and follows a path already taken by other countries, including neighboring France.
Each green bond will be regularly issued by the German government known as a “bund”, which is considered safe for investors.
Germany’s Deputy Finance Minister, Joerg Kukis, said the first green bond of EUR 4 billion would be issued next month, while the remaining would be issued in the fourth quarter.
The government has identified spending of more than 12.7 billion euros, which would meet the criteria for green investment.
Germany’s state-owned KfW Bank and several municipalities have already issued their green bonds.

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