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
SME Performance Review: the Annual Report...
Despite ongoing economic headwinds and geopolitical uncertainties, Europe’s 26.1 million SMEs continue to demonstrate remarkable resilienc...
How small businesses can navigate global...
Micro, small, and medium-sized enterprises represent the vast majority of businesses worldwide and are vital to global employment, yet they ...
Equipping SMEs with the skills to...
SMEs and entrepreneurs heavily depend on skills to stay competitive and face greater challenges than larger firms in accessing and retaining...
