The African Development Bank (AfDB) announced, on Wednesday, it’s inclusion on the Nasdaq Sustainable Bond Network (NBSN).
The NBSN is a platform designed to promote transparency in the market for social and green bonds. It was launched in December 2019 and over 40 issuers in 13 countries have added over 4000 bonds to the platform.
10 banks also joined the AfDB on the platform, and the $3 billion ‘Fight COVID-19’ social bond, which was launched in March, is the largest dollar-denominated social bond.
The aim of the bond is to help cushion the economic and social impact of coronavirus on African nations.
Joining the NSBN will attract the attention of finances of climate and green growth funds to the bank’s social bond.
“The Nasdaq Sustainable Bond allows is to showcase our work in combating poverty and in helping move the African Continent Forward. Our fight Covid-19 Social Bind is about saving lives and livelihoods,” says Hassatou Diop N’Sele, treasurer of the AfDB.
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“Nasdaq welcomes the inclusion of the African Development Bank on our Nasdaq Sustainable Bond Network especially with its Fight Covid-19 Social Bond, launched to alleviate the impact of the pandemic on African economies and livelihoods,” said Ann-Charlotte Eliasson, VP, Head of EU Bond Listings and Sustainable Debt.
The AfDB established the Social Bond Framework in 2017 and has raised $5.5 billion supporting 89 projects in 28 African countries.