This week, MUFG EMEA and Doha Bank announced the close of their first Green Repo scheme in the Middle East and North Africa (MENA) region. This is the first Green Repo scheme for both institutions that utilises green bonds as the underlying collateral.
“We are very pleased to collaborate with MUFG to execute our first Green Repo transaction. Innovative products such as Green Repos are central to Doha Bank’s ESG initiative,” said Sheikh Abdulrahman bin Fahad Al-Thani, Group CEO, Doha Bank.
Green Repo schemes use the proceeds of green collateral, such as green bonds, to finance green initiatives.
Cash proceeds generated from the repurchase of green bonds issued by the State of Qatar will be committed to the funding and purchase of green assets aligned to Doha Bank’s Sustainable Finance Framework, it was explained.
“These funding initiatives help in raising liquidity to invest into ‘Green eligible’ collateral that act as a bridge in achieving our sustainability targets in line with Qatar National Vision 2030,” added Al-Thani.