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Proceeds to fund over 2,000 loans to small businesses in the Philippines impacted by Covid-19 23 Jul 2021 |  Chito Santiago Union Bank of the Philippines (UnionBank) on July 23 announced it is issuing its first social bond to assist micro, small and medium-sized enterprises (MSMEs) impacted by Covid-19, with an investment from the International Finance Corporation (IFC). A member of the World Bank group, IFC is investing US$150 million in the seven-year social bond, which will be issued under UnionBank’s new sustainable finance framework. It is IFC’s first Covid-19 response social bond investment in Asia and only the second social bond of its kind in the Philippines. It also marks UnionBank’s longest-term US dollar-denominated bond to date.

Jose emmanuel hiladoAsia pacific alfonso garcia moraInternational finance corporationInternational capital market associationWorld bankUnion bankSocial bond principlesAsean social bond standardsசர்வதேச நிதி நிறுவனம்சர்வதேச மூலதனம் சந்தை சங்கம்உலகம் வங்கிதொழிற்சங்கம் வங்கிசமூக பத்திரம் ப்ரிந்ஸிபல்ஸ்யாசீன் சமூக பத்திரம் தரநிலைகள்