The West African Development Bank has successfully completed its first Sustainable Development Goals bond issue on the international market, worth €750 million.
Nearly 260 asset managers, banks, insurance companies and other pension funds from the United Kingdom, the United States of Europe and the Middle East, subscribed to the twelve-year maturity issue for €4.4 billion, or nearly 6 times the amount.
This bond issue, intended to finance projects with a high social and environmental impact, carries a rate of 2.75% slightly above the European market average. This is the lowest rate ever obtained by BOAD on the international market.
The funds raised are expected to strengthen the Bank's investment capacity in priority sectors such as agriculture and food security, renewable energy, basic infrastructure, health, education and social housing. The operation is also in line with the vision of the Djoliba Strategic Plan, which runs from 2021 to 2025.