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AfDB approves 2022 borrowing programme

AfDB will continue to promote the development and deepening of African capital markets. (Image source: Adobe Stock)

The 2022 borrowing programme of the African Development Bank (AfDB) has been approved by the board of directors for up to US$10bn to be raised from the capital markets

The AfDB is active in various international capital markets, including the US dollar, euro, Australian dollar, and pound sterling. The bank continues to consolidate its environmental, social and governance (ESG) footprint through the issuance of green and social bonds. This year it included its first ever social bond transaction denominated in Australian dollar.

The bank also used its ‘High 5’ strategic priorities as a platform to issue 29 theme bonds, including Integrate Africa, Feed Africa, Improve the Quality of life for the People of Africa, Industrialise Africa and Light Up and Power Africa.

AfDB will continue to promote the development and deepening of African capital markets through the issuance of local currency-denominated debt to facilitate the financing of its local currency operations, alongside other initiatives.

It is rated triple-A by all the major international rating agencies, with a stable outlook, and is also rated by the ESG rating agencies.

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