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AfDB approves $10.4bn borrowing programme for 2021

Ehime Alex by Ehime Alex
December 21, 2020
in BUSINESS & ECONOMY
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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.

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“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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Ehime Alex

Ehime Alex

Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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