The German development bank KfW has issued the world's largest green bond in dollars.

The Frankfurt-based bank raised $ 3 billion from investors for the five-year green bond, as KfW announced on Thursday.

This is the world's largest dollar bond to date that is used for ecological purposes.

The paper had been oversubscribed several times.

Investor interest in such green bonds is huge. The European Union had set several records at its emissions premiere this week. With a volume of 15 billion euros, the first green EU bond is the largest government bond of its kind. The bids of the investors amounted to the record sum of 135 billion euros. With the money raised for such securities, governments and companies want to promote sustainable transport systems and reduce CO2 emissions from cars.

With its latest green bond, KfW has now achieved a green refinancing volume of around EUR 15 billion.

Together with the conventional bonds, the refinancing volume amounts to 76.7 billion euros since the beginning of the year.

That corresponds to 96 percent of the target value for this year of 75 to 80 billion euros.