The Belgian bank-insurer KBC has announced the launch of a €750 million social bond for health care investments, making them the first financial institution in the country to do so.
KBC has decided to create a social bond to assist the healthcare sector as it recovers from the Covid-19 pandemic.
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As a result, the bond is reserved for institutional and professional investors and will be used to finance hospital projects totalling €750 million over an eight-year period at a 3% interest rate.
Johan Thijs, CEO of the KBC Group, has stated that "this first social bond underscores our commitment to increasing our positive social impact through our strategic banking and wealth management activities."