African Development Bank invests around USD 116 million in Nedbank’s SDG-linked bonds

The African Development Bank has invested around $116 million in Sustainable Development Goals-linked bonds issued by Nedbank South Africa. This investment is listed on the green bonds segment of the Johannesburg Stock Exchange and will strengthen Nedbank’s capital base. It will enable Nedbank to disburse $696 million of new loans and invest in environment-friendly and climate-sensitive projects. The bond issue is expected to catalyse around $232 million in additional investment in clean energy, which will help South Africa’s transition from coal-generated power to clean energy over the next 10 years.

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