The Board of the African Development Bank (AfDB) has approved $7.24 billion for institution’s 2019 borrowing programme to be raised from the capital markets.
The Bank’s Treasurer, Hassatou N’Sele, said the African Development Bank a wide array of capital markets with the majority of its borrowing in US dollars and Euros as well as issuances in other public markets such as Australian dollars and Pound sterling.
Six Hydro power generation assets for concessioning — FG The Bank maintains an active presence in the socially responsible investment arena and continues to be a regular issue of Green and Social Bonds. These products serve to satisfy increasing demand for impact investment but also allow the Bank to highlight its development mandate and promote sustainable and inclusive growth.
The Institution has also used its ‘High 5’ operational priorities as a platform to continue the issuance of theme bonds, including an inaugural ‘Integrate Africa’ bond, a ‘Feed Africa’ bond awarded Asia Pacific Deal of the Year by mtn-i, more than forty ‘Improve the Quality of the Life for the People of Africa’ bonds, and two taps of its ‘Light Up and Power Africa’ bond.
SEC tasks Nigerians to use Green Bonds to tackle infrastructure gap The Bank is keen to innovate to diversify its product range and, as the financial markets continue to look to a future after Libor, was able to combine innovation with its social responsibility program and issue the first ever Green SOFR-linked bond, in November.
It will continue to promote the development of African Capital markets with the issue of local currency denominated debt to facilitate the financing of its local currency operations, alongside other initiatives. “We continue to raise our profile in the capital markets to provide cost-effective resources to finance projects and programs on the African continent.
Anger trails Anambra govt’s closure of markets over APGA campaigns “We have a strong track record, a diversified funding profile, investors across the world and the benefits of a AAA rating to strongly support the African Development Bank mandate,” N’Sele said.
The African Development Bank is rated triple-A by all the major international rating agencies and enjoys several solid ESG (Environmental Social and Governance) ratings. (AfDB)... spill TEA ☕ Easy on Shade #jaiyeorie
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