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Canberra Light Rail project secures green funding, Australia [free access]

December 24, 2020

Canberra Metro, in partnership with the government of Australian Capital Territory (ACT), has secured a green loan for the first stage of the Canberra Light Rail project. Canberra Metro has refinanced its AUD280 million debt facility with a green loan with Climate Bond Initiative certification under the Low Carbon Transport Criteria. This is the first public–private partnership (PPP) in the transport sector in the country to secure a green loan.

 

Categories for which the project qualified for the green loan include renewable energy, energy efficiency, pollution prevention and control, clean transportation, sustainable water and wastewater management, and environmentally sustainable management of living natural resources and land use.

 

In obtaining the green loan, Canberra Metro was assisted by its financial advisors and green structuring advisor MUFG; by its green loan coordinators—ANZ and Commonwealth Bank of Australia; and by its mandated lead arranger banks—ANZ, Commonwealth Bank of Australia, ING, Mizuho, NAB, and SMBC.