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Monday, December 21, 2020 / 08:20 AM / By AfDB / Header Image
Credit: African Development Bank
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
The 2021 Borrowing Program of the African Development
Bank has been approved by the Board of Directors for up to $10.4 billion to be
raised from capital markets. This program will allow the Bank to raise funds in
the debt capital markets in order to help finance the Bank's projects and
programs in Africa. The approval was made on December 11, 2020.
The African Development Bank is active in various
international capital markets including the US dollar, Euro, Australian dollar
and Pound sterling. 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.
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 $3 billion, three-year "Fight Covid-19" Social Bond earlier this year. The African Development Bank has also 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.
The African Development Bank is rated triple-A by all
the major international rating agencies with a stable outlook and is also rated
by the ESG (Environmental Social and Governance) rating agencies.
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