IRISOAK, an international business partnership, has issued a conditional letter of intent and initial proof of funds as a first step toward securing a Pre-Issuance Credit Enhancement Guarantee for ARB’s Climate Bond.
According to Marshall Mermell, CEO of ARB, “Securing the support of IRISOAK is a huge step for our company and an important example of innovation in blended finance—an approach that mixes public and commercial capital to reduce investment risk.
A new joint venture entity is established in each location where ART systems are installed, to manage operations, meet local governance requirements, and generate financial benefits for all stakeholders.
In their view, applying a blended finance approach allows companies and projects to get off the ground in emerging markets and attracts private investors for the express purpose of investing their money toward the SDGs to address the climate crisis.
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