Tuesday, February 27Inside Business Africa

AfDB wins global award for COVID-19 bond issue

The African Development Bank (AfDB) has been selected from a pool of bond market players as the best issuer of the COVID-19 bond in 2020. The selection is based on its $3 billion Fight COVID-19 social bond issued in March.

Speaking during the award ceremony held virtually, Senior Vice President and Chief Finance Officer, AfDB, Ms. Bajabulile Tshabalala, said the Bank was grateful for the market’s recognition of its quick response to the needs of the continent via its Fight COVID-19 Social Bond.

She said the bond floated on the Luxembourg Stock Exchange and significantly oversubscribed, was the world’s largest social bond at the time of issuance, and that it was an important instrument in alleviating the impact of the pandemic on African economies.

She said with the support from investors, the Bank was able to provide an efficient response at a very challenging time, and catered to the needs of socially-responsible investors.

Commenting, AfDB’s Treasurer, Hassatou N’Sele, said the Bond reflected investors’ confidence in the Bank’s Social Bond framework, and it’s capacity to deliver.

The Bank has since listed the bond on both the London Stock Exchange and Nasdaq. The proceeds would go to alleviating the impact of the pandemic on livelihoods and Africa’s economies.

Source: Guaridan

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