Petroleum Africa
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Sunday, December 24, 2017
The African Development Bank’s (AfDB) board of directors approved the bank’s 2018 borrowing program for $8 billion to be raised from capital markets. The bank provides financial assistance to its member countries by mobilizing resources, primarily from the capital markets, under its annual borrowing program.
The bank accesses a wide array of capital markets to provide this assistance and also has a proven track record of successful green bond issuances over the past half-a-decade.
“We have stepped up our profile in the international capital markets and will continue to raise funds across the globe to provide cost effective resources to our clients,” stated Acting Vice President Finance and Treasurer of the AfDB Group Hassatou N’Sele.
The bank recently launched a Social Bond program focused on meeting the critical development challenges that Africa is facing and that are at the heart of the Bank’s social mandate.
The AfDB has also used its ‘High 5’ operational priorities as a platform to launch theme bonds in 2017, including ‘Improve the Quality of the Life for the People of Africa’ bonds, ‘Industrialize Africa’ bonds and a ‘Light Up and Power Africa’ bond for which it received an award.
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