The African Development Bank come next year will be entering the international capital market to raise some $10.4 billion following the approval of the Bank’s 2021 Borrowing Programme by its Board of Directors.
The amount to be raised in the debt capital market is to help the Bank finance its projects and programmes in Africa for 2021.
The approval by the Bank’s Board of Directors 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 aims to continue to promote the development of African capital markets with the issue of local currency denominated debts 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 issued earlier this year.
The African Development Bank has also continued to use its ‘High 5’ operational priorities as a platform to issue Covid-19 theme bonds, including the ‘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 major international rating agencies with a stable outlook.