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StanChart executes $250 million ESG-based repo deal with Saudi National Bank -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : A crowd walks past Standard Chartered Hong Kong’s main branch, China on August 1, 2017. REUTERS/Bobby Yip

DUBAI, (Reuters) – Standard Chartered Bank (OTC) announced Monday that it had executed a 250 million repurchase arrangement transaction (Repo) based upon ESG principles with Saudi National Bank.

According to a statement, this transaction marks the first time that repo funding proceeds have been allocated toward ESG assets in the Middle East, North Africa, and Pakistan regions.

Saudi National Bank will finance large-scale renewable energy projects as well as green initiatives within Saudi Arabia, and in the greater Gulf region.

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