Archive for juillet, 2020


17-Jun-2020

The Compliance Review and Mediation Unit (BCRM), the Secretariat of the Bank’s Independent Review Mechanism (IRM), organized an information webinar for civil society organizations (CSOs) on “Handling Complaints from People Affected by Projects Financed by the African Development Bank Group (AfDB)” on Wednesday, 10 June 2020. 

The session brought together 61 participants from civil society organizations representing 8 countries in West Africa (Benin, Burkina Faso, Cote d’Ivoire, Ghana, Liberia, Mali, Nigeria, and Senegal); 3 in Southern  Africa (South Africa, Botswana and Eswatini); two Central African countries (Cameroon and Democratic Republic of Congo); two  East African countries (Kenya and Uganda); 3  North African countries (Morocco, Mauritania and Tunisia); and the United States of America and 5  European countries (Germany, Belgium, France, Great Britain and the Netherlands).

The participants became acquainted with the IRM through the presentations delivered focusing on the IRM mandate, roles, and procedures for handling complaints through problem-solving and compliance review.

Following the presentations, a panel of three  Representatives of CSOs shared their experiences with the IRM in handling of cases, and also informed the participants how they conduct outreach activities with affected communities. Finally, BCRM updated the participants on the ongoing third review of the IRM. BCRM encouraged the participants to submit their views and comments once the draft report is published in the Bank website for public consultation in coming months. The session provided an opportunity for participants to discuss and highlight the challenges and impacts of the IRM work on communities affected by projects financed by the AfDB and in helping the Bank achieve its sustainable development objectives.

The webinar was organized in partnership with three (3) CSOs: Accountability Counsel in the USA, Lumiere Synergie pour le Developpement (LSD) in Senegal and the Centre pour le Developpement de la Region de Tensift (CDRT in Morocco with the support of the Bank’s Civil Society and Community Engagement Division.

African Development Bank joins Nasdaq Sustainable Bond Network

17-Jun-2020

Nasdaq (Nasdaq: NDAQ) on Wednesday announced the inclusion of the African Development Bank, one of the world’s  largest issuers of social bonds, in the Nasdaq Sustainable Bond Network (NSBN). The NSBN is a global and publicly available platform designed to improve transparency in the market for green, social and sustainability bonds.

Ten Bank bonds were added to the platform, including its landmark $3 billion Fight COVID-19 Social Bond launched in March 2020, the largest Social Bond ever launched at the time in international capital markets. Fight COVID-19 remains today the largest dollar-denominated Social Bond.  It aims to help alleviate the economic and social impact of the pandemic on livelihoods and Africa’s economies.

By joining the Nasdaq Sustainable Bond Network, socially responsible issuers are provided a unique opportunity to bring attention to their concrete actions in terms of financing climate change and green growth.

“Nasdaq welcomes the inclusion of the African Development Bank on our Nasdaq Sustainable Bond Network especially with its Fight Covid-19 Social Bond, launched to alleviate the impact of the pandemic on African economies and livelihoods,” said Ann-Charlotte Eliasson, VP, Head of EU Bond Listings and Sustainable Debt.

“We are proud to offer visibility to an issuer with such a strong social mandate, which the world needs more than ever, especially in these challenging times.”

Since the launch of Nasdaq Sustainable Bond Network(link is external) in December last year, more than 40 issuers from 13 countries have added over 4,000 bonds to the platform, including the Nordic Investment Bank, HSBC and Fannie Mae.

“The Nasdaq Sustainable Bond platform allows us to showcase our work in combating poverty and in helping move the African continent forward. Our Fight Covid-19 social bond is about saving lives and livelihoods,” said Hassatou Diop N’Sele, Treasurer of the African Development Bank.

The African Development Bank established its Social Bond framework in 2017 and has raised the equivalent of $5.5 billion through five transactions supporting 89 eligible social projects in 28 African countries as of 31 December 2019. In 2018, the Bank was designated “Second most impressive social or sustainability bond issuer” at the Global Capital SRI Awards and the Bank’s NOK 1 billion 3-year Social Bond issued in 2019 was awarded “Social Bond of the Year” by Environmental Finance.

https://www.afdb.org/en/news-and-events/press-releases/african-development-bank-joins-nasdaq-sustainable-bond-network-36229

Read Nasdaq press release on inclusion here(link is external)


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