The Board of Directors of the African Development Bank has approved ‘2021 Borrowing Programme’ of $10.4bn to be raised from capital markets.
In a statement, AfDB said the programme would allow it to raise funds in the debt capital markets in order to help finance its projects and programmes in Africa.
“The bank 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.
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“In the socially responsible investment arena the bank continues to be active and a regular issuer of green and social bonds, as highlighted by its award-winning and landmark $3bn, three-year ‘Fight COVID-19’ social bond earlier this year,” the statement explained.
AfDB said it had continued to use its ‘High 5’ operational priorities as a platform to issue 19 theme bonds, including ‘Improve the Quality of the Life for the People of Africa’ and ‘Light Up and Power Africa’ bonds.
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