AfDB Launches Green Bond Programme for Financing Climate Solutions
11 October 2013: The African Development Bank (AfDB) has launched its inaugural Green Bond, which aims to provide funding for low-carbon and climate-resilient projects, focusing on, inter alia, programmes for sustainable energy and resilient landscapes. It furthers AfDB's aim to increase the use of public-private partnerships to meet development challenges.
The bonds were designed to address two core objectives within AfDB's Strategy for 2013-2022: achieving inclusive growth for poverty reduction and increased employment; and assisting a transition to green growth through ensuring sustainable, inclusive growth.
The majority of initial support for the three years, US$500 million Green Bond has been from investors focused on socially responsible investing, purchasing 84% of the bonds. [AfDB Press Release] [AfDB Green Bond Programme]