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Manila Bulletin devider Business devider Banking & Finance devider IFC invests $100 million in UnionBank's first sustainability bond

IFC invests $100 million in UnionBank's first sustainability bond

Published Jul 15, 2026 10:25 am

International Finance Corp. (IFC), the World Bank Group’s (WBG) investment arm, is investing $100 million in Union Bank of the Philippines’ (UnionBank) first sustainability bond to help the Aboitiz-led bank expand its green and social asset portfolio.

In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, July 15, UnionBank said the landmark transaction will expand access to finance, promote sustainable practices, and spur job creation by supporting micro, small, and medium enterprises (MSMEs) in the country.

“This landmark sustainability bond builds on our strong and continuing partnership with IFC and reflects UnionBank’s commitment to advancing our sustainable finance agenda,” said UnionBank Treasurer and Global Markets Head Johnson L. Sia.

Sia added, “Following our successful collaboration on UnionBank’s first social bond, this second partnership with IFC strengthens our ability to support sustainable finance borrowers so they can grow their businesses, create jobs, and contribute to inclusive growth in the Philippines.”

Proceeds from the sustainability bond will be used to provide loans to MSMEs and support the growth and diversification of UnionBank’s sustainability assets, including renewable energy (RE), energy efficiency, and green buildings.

IFC has been providing technical support through its 30 by 30 Zero Program to help UnionBank diversify its portfolio by including new eligible sectors or segments and identifying sustainability-related financing opportunities.

The latest investment is part of IFC’s programmatic approach to deepening local capital markets in the Philippines. In 2021, IFC invested in UnionBank’s first social bond, which financed more than 3,000 loans to MSMEs that were disproportionately affected by the Covid-19 pandemic.

“We are excited to partner once again with UnionBank on another important milestone in deepening local capital markets in the Philippines,” said IFC country manager for the Philippines Amena Arif.

Arif added, “Through this sustainability bond, IFC is helping ensure that growth translates into local jobs—creating income, dignity, and opportunity in communities across the country. By expanding access to finance for MSMEs, we are enabling businesses to grow, hire locally, and build more resilient local economies.”

IFC’s $100-million subscription to the sustainability bond issued by UnionBank will be earmarked for expanding the bank’s green and social asset portfolio. The issuance will be UnionBank’s first sustainability bond and will adhere to the International Capital Market Association’s (ICMA) sustainability bond principles.

The project is also supported by the WBG’s joint capital markets program (JCAP) for the Philippines, which aims to support the development of local capital markets to mobilize long-term financing for infrastructure, housing, and MSME financing, with sustainable finance as a cross-cutting theme. - James A. Loyola

Related Tags

Union Bank of the Philippines International Finance Corporation (IFC) Johnson L. Sia Amena Arif
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