The IDB priced a new CAD600 million 5-year fixed rate Sustainable Development Bond.
This transaction represents the IDB’s first SDB issuance, the proceeds of which will be directed to support sustainable development in IDB’s member countries aligned with the Bank’s strategic priorities to reduce poverty and inequalities in Latin America and the Caribbean by promoting economic and social development in a sustainable, climate-friendly way. Each strategic priority of the IDB aligns to at least one of the United Nations Sustainable Development Goals (SDGs), with all goals covered within the IDB institutional strategy, which may be adapted from time to time should the United Nations SDGs definition evolve. With this Sustainable Development Bond, the IDB raises awareness for SDG#11: Sustainable Cities and Communities, which aims to make cities and human settlements inclusive, safe, resilient and sustainable by 2030.
The bonds were sold to 25 investors across the world, including PSP Capital, Bank of Nova Scotia Treasury, Sun Life and Nomura Asset Management.
With this new product, IDB can meet the growing needs of global investors for highly rated assets that support the UN sustainable development goals.