LONDON, Jan 4 (Reuters) -
* The European Bank for Reconstruction and Development (EBRD) has issued a five-year 600 million euro ($685 million) green bond, it said on Friday.
* Green bonds are a category of fixed-income securities that raise capital for projects with environmental benefits.
* The EBRD said the transaction represents its inaugural benchmark green bond in the euro market and its fourth benchmark-sized green bond.
* The proceeds of the EBRD’s green bonds support a portfolio of projects in the areas of energy efficiency, renewable energy, water management, waste management, air pollution prevention and sustainable transport. ($1 = 0.8764 euros) (Reporting by Nina Chestney Editing by David Goodman)