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African Development Bank Joins Nasdaq Sustainable Bond Network
Posted On 20 Jun 2020
By Richard Adorsu-
Photo Credit: African Development Bank
NEW AFRICA BUSINESS NEWS (NABN) Accra, Ghana- Nasdaq announced the inclusion of the African Development Bank, one of the world’s largest issuers of social bonds, in the Nasdaq Sustainable Bond Network (NSBN).
The NSBN is a global and publicly available platform designed to improve transparency in the market for green, social and sustainability bonds.
Ten Bank bonds were added to the platform, including; its landmark $3 billion Fight COVID-19 Social Bond launched in March 2020, the largest Social Bond ever launched at the time in international capital markets.
Fight COVID-19 remains today the largest dollar-denominated Social Bond. It aims to help alleviate the economic and social impact of the pandemic on livelihoods and Africa’s economies.
By joining the Nasdaq Sustainable Bond Network, socially responsible issuers are provided a unique opportunity to bring attention to their concrete actions in terms of financing climate change and green growth.
“Nasdaq welcomes the inclusion of the African Development Bank on Nasdaq Sustainable Bond Network especially with its Fight Covid-19 Social Bond, launched to alleviate the impact of the pandemic on African economies and livelihoods,” said Ann-Charlotte Eliasson, VP, Head of EU Bond Listings and Sustainable Debt.
“We are proud to offer visibility to an issuer with such a strong social mandate, which the world needs more than ever, especially in these challenging times.”
Since the launch of Nasdaq Sustainable Bond Network in December last year, more than 40 issuers from 13 countries have added over 4,000 bonds to the platform, including; the Nordic Investment Bank, HSBC and Fannie Mae.
“The Nasdaq Sustainable Bond platform allows us to showcase our work in combating poverty and in helping move the African continent forward. Our Fight Covid-19 social bond is about saving lives and livelihoods,” said Hassatou Diop N’Sele, Treasurer of the African Development Bank.
The African Development Bank established its Social Bond framework in 2017 and has raised the equivalent of $5.5 billion through five transactions supporting 89 eligible social projects in 28 African countries as of 31 December 2019.
In 2018, the Bank was designated “Second most impressive social or sustainability bond issuer” at the Global Capital SRI Awards and the Bank’s NOK 1 billion 3-year Social Bond issued in 2019 was awarded “Social Bond of the Year” by Environmental Finance.
For New Africa Business News Richard Adorsu Reports, Africa Correspondent
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It should be a good partnership between African Development Bank and Nasdaq Sustainable Bond Network. Always good to raise funds for projects. Thanks for reporting. Libreville, Gabon. Patrick.
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Adorsu great reporting. As you know African Development Bank is doing lot of big ticket projects in the whole Continent. Ya Africa big. Kampala, Uganda. Alex!
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One of your fan. I like reading your reports. Many thanks. Accra Ghana !Koshi!
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Am so proud of all the great work this bank is doing. Thank you for all your reporting. London, England. Akello.
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Thank you for signing me to new Africa business news, newsletter. Knowing more about Africa through your online newspaper is great. Canberra, Australia. JACK!
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