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OPEC Fund raises $1 billion via sustainability bond

Gulf states in the organization are showing increasing interest in funding projects related to the environment, renewable energy and green technology.
OPEC Fund Director General - Abdulhamid Alkhalifa

The OPEC Fund for International Development announced Friday that it raised $1 billion via a bond. 

The OPEC Fund offered the bond for sale on Wednesday, and this is the first time ever it has sold the debt instrument. The three-year, fixed-rate bond will go toward financing sustainability-related projects, the fund said in a press release. 

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