Pan Asia Bank, in a stock exchange filing yesterday, disclosed that it had completed a landmark US$33 million funding arrangement with Global Climate Partnership fund (GCPF), an investment fund which provides financing for sustainable energy projects. The German Federal Environment Ministry, KFW, the Ministry of Foreign Affairs of Denmark and IFC are among the top investors of GCPF.
The Bank has already availed US$ 20 million and the balance US$ 13.0 million will be availed on or before December 31, 2017.
The loan is a floating rate facility, with interest rate priced semi annually.
The bank said the loan will be utilized to grow the green lending business of the bank.
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