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African Development Bank launches green bond in Norwegian krone market

WorldAfricaAfrican Development Bank launches green bond in Norwegian krone market
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The African Development Bank, rated Aaa/AAA/AAA/AAA (Moody’s/S&P/Fitch/Japan Credit Ratings, all stable), has issued a 1 billion Norwegian krone (NOK) 5-year green bond due March 2028 .

The bond was issued on Thursday 2 March and was the bank’s first green bond issue in the Norwegian krone market. This follows successful green bond issuances in US dollars (USD), Swedish krona (SEK), Australian dollars (AUD) since the Bank established its green bond framework in 2013, and three issuances in 2019 and 2021. NOK Social Bond.

The funds raised through this transaction will be used to finance eligible green projects in accordance with the African Development Bank’s Green Bond Program, which aims to support the transition of African countries to green development. Bond proceeds will contribute to building resilience against the negative effects of climate change, achieving sustainable infrastructure, developing ecosystems and promoting the efficient and sustainable use of natural resources such as water, which are vulnerable to climate change across the continent. is a particularly sensitive area.

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The transaction emphasizes the Bank’s continued focus on its ten-year strategy, whose overarching objectives are inclusive growth and transition to green growth. It also reflects the Bank’s continued endeavor to play its role as one of the main actors of climate finance in Africa, particularly in the sustainable water and wastewater management sector, which is part of the Bank’s green pipeline by 31 December 2022. represents 28%. This is especially relevant in view of the upcoming United Nations 2023 Water Conference in New YorkIt aims to focus the world’s attention on the theme of water and its important role in fulfilling the entire sustainable development agenda.

Commenting on the bond issuance, Kristin Lien, senior portfolio manager at Kommunalbanken, said: “Kommunalbanken is pleased to support the African Development Bank’s first green bond in the Norwegian market. It will help support the transition to a low-carbon, climate-friendly future. represents a great alignment of both our own and AfDB’s objective of raising capital to finance this transaction. We hope that the success of this transaction will encourage other development finance institutions to raise more funds in the Norwegian green bond market in the future. Will do

Keith Werner, Division Manager, Capital Markets and Financial Operations, African Development Bank, said: “As a leading participant in the ESG market, the African Development Bank is pleased to launch its inaugural Green Bond in the Norwegian market in collaboration with SEB. Nordic Markets Support the Bank’s commitment towards addressing the devastating effects of climate change in Africa by expanding its investors’ access to the 15th The Green Bond, issued under the Bank’s Green Bond framework, highlights the Bank’s continued investment in areas such as renewable energy, energy efficiency, clean transportation, biosphere conservation, but especially, as we approach the United Nations later this month Approaches the Water Convention, an increasingly important area of ​​sustainable water and wastewater management.

“We are proud to assist the AfDB’s continued expansion into new areas of the green finance market and support the delivery of their green development strategy in Africa. The UN Water Conference in New York later this month will remind us how water plays such a vital role in delivering on the sustainable development agenda, so this is a great opportunity to highlight AfDB’s funding in this area. represents about one-third. their green pipeline,” said Ben Powell, head of sustainable debt capital markets, SEB.

Bond Terms and Conditions:



african development bank



Aaa/AAA/AAA (all stable)

release amount


NOK 1 billion

date of issue


March 2, 2023

settlement date


March 9, 2023

maturity date


March 9, 2028



3.753%, annualized, ACT/ACT



Registered / CGN

use of proceeds


Eligible Projects as per AfDB’s Green Bond Framework

is in






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