Italy to issue its first green bond in second half of 2020 - head of debt

by Reuters
Thursday, 5 December 2019 15:43 GMT

Wind power turbines are seen behind the Carbosulcis establishment in Carbonia, west of Cagliari, during a protest 400 metres (1312 ft) underground by Sardinian miners as they block the entrance of the mine August 30, 2012. REUTERS/Alessandro Bianchi

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Italian ruling parties have announced green investments worth 4 billion euros over the next three years

ROME, Dec 5 (Reuters) - Italy plans to issue its first green bond in the second half of 2020, the head of the debt management office at the Economy Ministry was quoted as saying on Thursday, as Rome looks for ways to finance environment friendly projects.

Italian ruling parties, the anti-establishment 5-Star Movement and centre-left Democratic Party (PD), have announced green investments worth 4 billion euros ($4.41 billion) between 2020 and 2023. Green bonds are one way of financing these projects.

"The first issuance is likely to be closed in the second half of 2020," Davide Iacovoni was quoted as saying by two participants during a closed-door conference in Rome.

The Treasury also aims to sell more global bonds in U.S. dollars next year, he added.

In October Italy issued its first U.S. dollar bond since 2010, raising $7 billion and helping to diversify funding sources for the heavily indebted state.

($1 = 0.9073 euros) (Reporting by Giuseppe Fonte and Stefano Bernabei, editing by Giselda Vagnoni)

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