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.
billion for institution’s 2019 borrowing programme to be raised from the
capital markets.
 |
| AfDB President Akinwumi Adesina |
The Bank’s Treasurer, Hassatou N’Sele, said the continental bank
accesses 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.
accesses 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.
The Bank maintains an active presence in the socially responsible
investment arena and continues to be a regular issue of Green and Social
Bonds.
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.
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.
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.
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.
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.
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.
cost-effective resources to finance projects and programs on the African
continent.
“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.
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)
international rating agencies and enjoys several solid ESG
(Environmental Social and Governance) ratings. (AfDB)
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