In recognition of its immense contribution and support towards alleviating the impact of the COVID-19 pandemic on the African continent, the African Development Bank (AfDB), has been announced as the winner of the 2020 Global Capital Bond Awards.
The Bank was selected in a poll of bond market players as the best issuer in 2020 of a COVID-19 bond for its $3 billion dollar-denominated Fight COVID-19 Social Bond issued on March 27, 2020.
The ‘Fight COVID-19 Bond’, floated by the African Bank on the Luxembourg Stock Exchange, was the world’s largest social bond at the time of issuance. The Bank has since listed the bond on both the London Stock Exchange and Nasdaq Bond proceeds, with a three-year maturity, which will go a long way to help alleviate the impact of the pandemic on livelihoods and Africa’s economies.
Ms.Bajabulile Swazi Tshabalala, AfDB Senior Vice President and Chief Finance Officer, while speaking at the award ceremony held virtually, thanked the organizers of the award for recognizing the Bank’s effort in responding quickly to the needs of the continent with its ‘Fight COVID-19 Social Bond’. The Bond has served as an important instrument in alleviating the impact of the COVID-19 pandemic on African economies and lives.
In a separate pronouncement, the AfDB announced its partnership with the Nigerian government and Microsoft to launch the ‘Digital Nigeria e-Learning platform aimed at empowering the Nigerian youths with marketable digital skills.
The Digital platform is expected to leverage the AfDB’s Coding for Employment initiative and build linkages between the public and private sectors.
Mr Isa Pantami, Minister of Communication and Digital Economy, while speaking at the launch said that the platform would support the development of a large pool of digitally literate and skilled citizens.
The Digital Nigeria programme aligns with AfDB’s strategic agenda to create 25 million jobs in agriculture, information communication technology and other key sectors by 2025.