Finance
StanChart executes $250 million ESG-based repo deal with Saudi National Bank
Published by maria gbaf
Posted on November 16, 2021
2 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on November 16, 2021
2 min readLast updated: January 28, 2026
Standard Chartered and Saudi National Bank execute a $250M ESG-based repo deal, funding renewable energy projects in Saudi Arabia.
DUBAI (Reuters) -Standard Chartered Bank said on Monday it has executed a $250 million repurchase agreement transaction (Repo) based on ESG principles with the Saudi National Bank.
The transaction is the first in the Middle East, North Africa and Pakistan region, and among the first globally, where repo financing proceeds are allocated towards ESG assets, it said in a statement.
The Saudi National Bank, the kingdom’s largest bank, will allocate the proceeds of the financing to several large renewable energy projects and green initiatives in Saudi Arabia and the wider Gulf region.
The deal follows Saudi Arabia’s recent pledge to cut its carbon emissions to net zero by 2060.
In September, a senior Standard Chartered executive told Reuters the bank is looking to add bankers to focus on sustainable finance, project finance and capital markets in Saudi Arabia, a market it sees will become a front-runner for its regional business in coming years.
Separately First Abu Dhabi Bank, UAE’s largest bank, said it has executed a green repurchasing transaction with Deutsche Bank.
Under this agreement, FAB receives Emerging Market Eurobonds collateral from Deutsche Bank and provides U.S. dollar financing in exchange. Deutsche Bank will deploy the funds into green financing activity.
(Reporting by Saeed Azhar; Editing by Kirsten Donovan and Angus MacSwan)
The article discusses a $250 million ESG-based repo deal between Standard Chartered and Saudi National Bank.
Standard Chartered Bank and Saudi National Bank are the main parties involved in the transaction.
It is the first ESG-based repo deal in the MENA region, supporting Saudi Arabia's renewable energy projects.
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