“British International Investment and Symbiotics partner to launch first-ever Green Basket Bond across Africa, South and Southeast Asia” – Symbiotics – June 14, 2022

In a press release distributed on June 14, 2022 Symbiotics reported:

“British International Investment (“BII”), the UK’s development finance institution (DFI), has subscribed to a USD 75 million Green Basket Bond arranged by Symbiotics, a leading emerging markets access platform and financial lender. The green lending programme will direct much-needed financing (across multiple currencies) to small-scale green projects across Africa, South and Southeast Asia through local MSME banks.

This Green Basket Bond is the first of its kind issued in BII’s markets – covering the African continent, India, Pakistan, Bangladesh, Sri Lanka, Nepal, Indonesia, Philippines, Vietnam, Cambodia and Laos. This programme will leverage Symbiotics’ global network, and BII’s 74-year track record as an impact investor, to support 10 – 15 MSME banks who require smaller investment capital than BII is typically able to fund directly.”

Jo Fry, Investment Director & Head of Intermediated Credit, British International Investment, added: ‘We are delighted to partner with Symbiotics, a trusted impact-focused asset manager, on this pioneering programme. This investment will increase access to climate finance for small scale entrepreneurs and businesses that are developing green projects. It will also increase MSME banks’ capabilities to identify and manage climate assets. BII’s intention is that this new, innovative funding structure will enable other investors to replicate and invest in this space. The programme is a testament to BII’s commitment to create and catalyse new funding structures that can help address the greatest challenges in our market.’

Daniel Schriber, Head of Investments at Symbiotics, said: ‘Symbiotics is delighted to structure its first green basket bond in partnership with BII. Adding green use of proceeds to our emerging market investments will broaden the impact of our funding in addressing different Sustainable Development Goals (SDGs). This innovative product will also increase the awareness of climate finance in emerging markets and support financial institutions in further developing and managing their green product range.’

This Green Basket Bond issuance contributes to the United Nations Sustainable Development Goals (SDGs 7) on Affordable and Clean Energy and 13 on Climate Action.”

You may read the press release on the news page of the Symbiotics internet site.


Virtual Course – Introduction to Sustainable Finance – School of American Law (SAL) Ukraine – May 14-15, 2022

On May 14-15, 2022 Geoffrey Mazullo, Adjunct Professor, School of American Law (SAL) will conduct a two-day virtual course “Introduction to Sustainable Finance” as part of the School of American Law (SAL) Ukraine.  The SAL Ukraine is a joint program of Chicago-Kent College of Law and Ivan Franko National University of Lviv, Ukraine.

Four upper-class students of law and recent graduates participated in the course.

The course covered the following topics:

  • Corporate Governance in Emerging Markets;
  • Sustainable Finance Legislation in European Countries and the European Union (EU);
  • Best Practice and Case Studies in Sustainable Finance in Belgium and The Netherlands;
  • Sustainable Finance in Practice:  ESG Indicators; and
  • Assessing and Mapping ESG Risk.

Students worked on case studies about an Indian company, sustainable finance strategies implemented by Belgian financial institutions and ESG key performance indicator (KPI) risk mapping for a hypothetical company.