African Development Bank to raise over US$7 billion from capital markets for investment in African economies in 2019

The African Development Bank continues to build its profile in the capital markets for cost-effective resources to finance projects and programs in Regional Member Countries.

The African Development Bank’s Board has approved the institution’s 2019 borrowing program to the tune of US$7.24 billion from capital markets.

The Bank accesses a wide array of capital markets with the majority of its borrowing in US dollars and Euros as well as issuances in other public markets such as Australian dollars and Pound sterling.

Africa’s premier Development finance institution maintains an active presence in the socially responsible investment arena and continues to be a regular issue of Green and Social Bonds. These products serve to satisfy increasing demand for impact investment but also allow the Bank to highlight its development mandate and promote sustainable and inclusive growth.

The Institution has also used its ‘High 5’ operational priorities as a platform to continue the issuance of theme bonds. These include an inaugural ‘Integrate Africa’ bond, a ‘Feed Africa’ bond awarded Asia Pacific Deal of the Year by mtn-i, more than forty ‘Improve the Quality of the Life for the People of Africa’ bonds, and two taps of its ‘Light Up and Power Africa’ bond.

The Bank is keen to innovate and diversify its product range and, as the financial markets continue to look to a future after Libor, was able to combine innovation with its social responsibility program and issue the first ever Green SOFR-linked bond, in November.

The African Development Bank will continue to promote the development of African Capital markets with the issue of local currency denominated debt to facilitate the financing of its local currency operations, alongside other initiatives.

“We continue to raise our profile in the capital markets to provide cost-effective resources to finance projects and programs on the African continent. We have a strong track record, a diversified funding profile, investors across the world and the benefits of a AAA rating to strongly support the African Development Bank mandate,” the Bank’s Treasurer, Hassatou N’Sele said.

The African Development Bank is rated triple-A by all the major international rating agencies and enjoys several solid ESG (Environmental Social and Governance) ratings.

In 2017, the Bank disbursed US$7.51 billion to finance projects and programs in its Regional Member Countries, exceeding its target for non-sovereign operations by 56%.

Source: The African Development Bank

Illustration Photo: Projects- Agriculture PAMPV PAPNEEI City-Beni Mellal, MOROCCO (credit: AfDB Group)

Comments

No comments to display.

Related posts

Toyota Mobility Foundation announces finalists in $4 million global Mobility Unlimited Challenge

The Challenge invited engineers, innovators, and designers from across the world to submit designs for game-changing technologies, incorporating intelligent systems, to improve the mobility and independence of people with lower-limb paralysis. Central to the Challenge is the importance of collaboration with end-users to develop devices which will integrate seamlessly into users’ lives and environments, while being comfortable and easy to use, enabling greater independence and increased participation in daily life.

PRIMA Call for Proposals: Bridging the gap between potential and actual irrigation performance in the Mediterranean

In the Mediterranean basin, water balances and water used for irrigation including irrigation performance is often lower than potential at the farm and at the water users association level. This gap is evident for average performance, but it is particularly important when the dispersion among farmers and their associations is considered. Attaining Sustainable Mediterranean irrigation requires to assess the real water balances in the area of irrigation, amount of water available for irrigation ensuring that water levels are environmentally safe for ecosystems and other needs. Furthermore, optimising irrigation performance requires to combine technological, managerial and governance innovations taking into account the availability, safety and quality of water resources, existing institutional arrangements, as well as crop agronomy planning.
Application Deadline in a month

PRIMA Call for Proposals: Agro-food Value Chain 2019

Proposals should focus on products with high added value, most exposed to fraud and valorise productions that have been discontinued but hold nutritional value and are important for biodiversity conservation. Proposal should also aim at creating trans-national networks of laboratories, validating and harmonizing protocols, sharing open-data on food products of the Mediterranean tradition, providing a robust support for certification and control bodies, and building capacity in key enabling technologies related to authenticity and traceability.
Application Deadline in a month

African Development Bank Group approves $25 million Equity Investment in Fund for Renewable Energy Projects in Africa

ARPF projects will focus on mature technologies including wind, solar PV, small to medium hydro, geothermal and biomass. These would include grid-connected independent power producers (“IPPs”), and decentralized energy projects (commercial & industrial solar, mini-grids and solar home systems companies). The Fund’s strategy is to prioritize projects with a clear timeline to financial close, with emphasis on de-risking early stage greenfield projects.

European call for proposals: Innovative utilisation of aquatic biomass and Novel aquaculture production systems

The proposals should seek to be complementary with or adding to other projects funded under FP7 and Horizon 2020, ERA-NETs, BBI JU or other funding schemes, both ongoing and recently finished. They should reflect awareness of the objectives of running projects in relevant fields to avoid overlap. Proposed projects must demonstrate industry involvement.
Application Deadline in 2 months

European call for proposals: Sustainable and Resilient agriculture for food and non-food systems

Based on the two previous calls, the FACCE SURPLUS partners decided to further advance their successful funding scheme with a third call of the initiative in order to complete the portfolio of projects and filling remaining research and funding gaps. Having in mind the research already conducted in FACCE SURPLUS projects, this call at the end of the initiative aims at further improving collaboration in the area of food and nonfood biomass production and transformation systems.
Application Deadline in 2 months

A Quick Look At The Latest Happenings In The Cloud Integration Market

As an emerging trend of technology the field of cloud Integration is steadily expanding. The global cloud Integration Market is growing approximately at a CAGR of 8% during 2018-2023 and it is expected to grow at a highest CAGR during the forecast period.

A Close Look At The Latest Research Trends Within The 3D Printing Metals Market

3D printing involves the creation of a 3 dimensional object by adding successive layers of a particular material one on top of each other until the overall object has been formed. Metals constitute one of the main materials used for 3D printing.

Call for Applications: Go Green in the City 2019

The Go Green in the City challenge is now entering its 9th year running and our 2019 edition is going to be even bigger, better and bolder! We are looking for students like you from around the world who are willing to put their skills and ideas to the test.
Application Deadline in 4 months