(2 minutes read)
· The 2021 Borrowing Program of the African Development Bank has been approved by the Board of Directors for up to US$10.4 billion to be raised from the debt market to help finance the Bank’s projects and programs in Africa.
· The approval for raising funds was accorded on December 11,2020
The 2021 Borrowing Program of the African Development Bank has been approved by the Board of Directors for up to US$10.4 billion to be raised from the debt market to help finance the Bank’s projects and programs in Africa. The approval for raising funds was accorded on December 11,2020.
The African Development Bank is active in various international capital markets, such as the US dollar, Euro, Australian dollar and
Pound sterling. The Bank will issue local currency denominated debt to facilitate the financing of its local currency operations.
The Bank continues to be active and a regular issuer of Green and Social Bonds. Earlier this year , the Bank , issued a ,US$3 billion, three-year “Fight Covid-19” Social Bond. 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.
