The West African Development Bank (BOAD) has just issued an inaugural bond of 750 million euros over 12 years, or 492.85 billion FCFA. This transaction represents BOAD's first euro transaction, and the first sustainable bond of an African issuer.

The inaugural durable bond is, a historic transaction, not only for BOAD, but also for the sub-Saharan Africa region as a whole. According to the institution's officials, this operation testifies to the status of a rapidly developing region, the West African Economic and Monetary Union (WAEMU), as well as the key role of BOAD in promoting this growth.
"It's wonderful to see this first sustainable bond from an African issuer, and great to see that it is doing a good job of helping a large region," said a member of the Environmental Finance Bond Awards jury about BOAD's victory. The issue of sustainable bonds has attracted more than 260 investors around the world, 40% of whom come from the UK.

The issue is part of a framework of sustainable bonds, calling on BOAD to finance projects with high social and environmental impacts. The proceeds of the issue will strengthen BOAD's capacity to invest in priority sectors such as agriculture and food security, renewable energy, affordable basic infrastructure, health, education, clean transport, climate change adaptation, green buildings, pollution prevention and control, socio-economic advancement and empowerment, sustainable management of living natural resources and affordable social housing.