The African Development Bank (AFDB) board has approved $7.24 billion for institution’s 2019 borrowing programme to be raised from the capital markets.
The Bank’s Treasurer, Hassatou N’Sele, said AFDB accesses a wide array of capital markets with a large part of its borrowing in dollars and Euros as well as issuances in other public markets such as Australian dollars and Pound sterling.
The products are aimed at satisfying the increased demand for impact investment and allow the Bank to highlight its development mandate as well as promote sustainable and inclusive growth.
The Institution has also continued to issue theme bonds, such as the inaugural ‘Integrate Africa’ bond, a ‘Feed Africa’ bond among others.