African Development Bank’s Board Approves The Institution’s Borrowing Program For 2022

ABIDJAN, Ivory Coast, Jan 12-The 2022 borrowing program of the African Development Bank has been approved by the Board of Directors for up to $10 billion to be raised from the capital markets.  

The African Development Bank is active in various international capital markets, including the US dollar, euro, Australian dollar, and pound sterling.

“The Bank continues to consolidate its environmental, social and governance (ESG) footprint through the issuance of green and social bonds, which this year included its first-ever social bond transaction denominated in the Australian dollar,” AfDB said in a statement.

The African Development Bank has also used its ‘High 5’ strategic priorities as a platform to issue 29 theme bonds, including Integrate Africa, Feed Africa, Improve the Quality of life for the People of Africa, Industrialize Africa and Light Up and Power Africa.

In a statement, the bank said it will continue to promote the development and deepening of African capital markets through the issuance of local currency-denominated debt to facilitate the financing of its local currency operations, alongside other initiatives.

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 rating agencies.