Bank launches $3 billion coronavirus fight in Africa
March 27th, 2020 – The African Development Bank (AfDB) has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 (coronavirus) pandemic will have on livelihoods and Africa’s economies.
The Fight Covid-19 Social bond, with a three-year maturity, garnered interest from central banks and official institutions, bank treasuries, and asset managers including Socially Responsible Investors, with bids exceeding $4.6 billion.
This is the largest Social Bond ever launched in international capital markets to date, and the largest US Dollar benchmark ever issued by the bank. It will pay an interest rate of 0.75%.
The African Development Bank Group is moving to provide flexible responses aimed at lessening the severe economic and social impact of this pandemic on its regional member countries and Africa’s private sector.
More…http://www.nanews.net/news/bank-launches-3-billion-coronavirus-fight-in-africa/
Written by Nordic Africa News
Related Post
COP29 can ensure SMEs thrive in...
The transition to a just, resilient, net-zero future is not possible without small and medium-sized businesses, known as SMEs. They are the ...
Financing SMEs and Entrepreneurs 2024
Since 2020, a series of shocks to the global economy has had significant impacts on small and medium-sized enterprises (SMEs) and entreprene...
SMEs can benefit from integrating growth...
Accounting for about 30% of global greenhouse gas emissions, the industrial sector is accelerating its efforts to achieve net zero by 2050 ...
