The National Treasury Management Agency (NTMA) plans to raise additional funds by the end of the year for "green" projects, having tapped this fast-growing area of the global debt markets last October for €3 billion.

The State’s debt management agency said on Tuesday that it will hire a group of bankers to market the bonds, which will mature in 2031. In addition, the NTMA also plans to hold a regular bond auction on November 14th, having so far raised €12.3 billion of long-term debt in 2018, compared to its full-year target of between €14 billion and €18 billion.

Green bond funds will be used to finance eligible projects, such as sustainable water and waste management, clean transportation and renewable energy deals, as the National Development Plan targets €23 billion of spending on green energy schemes over the next decade.