For the first time it has offered a five-year green bond alongside 10-year green bonds.

ADB treasurer Pierre Van Peteghem said the bank needed to respond rapidly to growing demand for green bonds.

“We have found the dual-pronged approach…to be an efficient means of reaching ethical investors active at different segments of the yield curve," he said.

"This approach means that ADB is reaching an increasing number of investors who understand the importance of the green label.” 

A total of $750m was raised through the issue of the five-year bond, and $500m through the 10-year bond.

Money raised will fund low carbon and climate resilient projects funded through the bank’s capital resources and used in its non-concessional operations.

In 2015, the ADB announced its ambition to double its annual climate financing to $6bn by 2020.

Of this, two thirds will be focused on mitigation activities, such as renewable energy and sustainable transport, and the remainder on adaptation through resilient infrastructure and better preparedness for climate-related disasters.

The bond issue, which took place on 2 August, was spread broadly across the world’s capital markets and the bonds were bought up by a range of investors including central banks and official institutions, banks and fund managers.

The ADB plans to raise between $27-30bn from the capital markets this year.