The International Finance Corporation (IFC) will invest up to $500 million in PT Bank BTPN Tbk, including a social bond and a green bond issuance, marking the first of its kind for BTPN. The investment will support Indonesia’s micro, small and medium enterprise (MSME) sector, particularly women-led businesses, and promote action on climate change. The investment is expected to help grow the market for thematic bonds in Indonesia, among private sector issuers, and contribute to the development of the country’s capital markets. The green bond will be used to finance green projects, including renewable energy, energy efficiency, green buildings and clean transportation, among others, while the social bond will finance MSMEs, with half of the proceeds earmarked for women-owned MSMEs. The investment will be split equally between the social and green bonds, with IFC also providing support for climate risk management, green building finance, supply chain finance and gender finance.