DUBAI, Sept 22 (Reuters) – Saudi Arabia’s sovereign wealth fund plans to announce soon its first green debt deal, with borrowing linked to sustainability, the Public Investment Fund’s governor told a virtual event. “We will be the first sovereign wealth fund in the world to announce this green issuance,” Governor Yasir al-Rumayyan told an event on Tuesday held alongside the United Nations General Assembly. This month, PIF hired banks to be members of its ESG panel for its medium-term capital-raising strategy, IFR News reported. PIF signed a $15 billion loan with a large group of banks in March, followed a $10 billion loan it took in 2019 that was repaid last year and an $11 billion facility in 2018. Saudi Arabia will announce its “Green Initiative” next month, followed by the “Middle East Initiative”, which includes planting 50 billion trees, Rumayyan said.
