first climate bond has closed in the Philippines, and is
expected to boost infrastructure funding in the region.
The PHP10.7 billion ($255 million) bond was
issued by AP Renewables, a unit of Philippine energy company
Aboitiz Power, for the financing of its TiwiMakBan geothermal
power facilities in the Albay province.
The bond, which has been certified by the Climate Bonds
Initiative, is the first in Asia and the first ever climate