AfDB Green Bonds and Sustainable Bond Framework
Enriched UN / Multilateral · Found: 2026-03-11 11:10
The AfDB issues Green Bonds and operates under a Sustainable Bond Framework to channel climate finance towards eligible green projects, which can include waste management and circular economy initiatives meeting specific environmental criteria.
Source: https://afdb.org/en/topics-and-sectors/initiatives-partnerships/green-bonds
Funding Details
- Funder
- African Development Bank (AfDB)
- Funding Goal
- Channel climate finance and social development capital to eligible green and social projects in African Development Bank Regional Member Countries through green, social, and sustainability bond issuances.
- Funding Amount
- Bond issuances in multiple currencies (USD, EUR, AUD, GBP, SEK, NOK, ZAR); individual benchmark issuances range from EUR 500 million to USD 2 billion. No fixed project-level funding amounts — determined through AfDB lending operations.
- How to Apply
- This is not an open application program. The AfDB issues bonds on capital markets and uses proceeds to finance projects through its standard lending operations. Projects are identified and financed through the Bank's sovereign lending window (government projects) or non-sovereign/private sector window. Organizations seeking funding must engage with AfDB country offices or the private sector department to have their projects considered for financing under the Bank's regular project pipeline.
- Target Region
- Africa (AfDB Regional Member Countries)
- Official Page
- https://www.afdb.org/en/financial-information/investor-resources/capital-markets/sustainable-bond-program
- Last Checked
- 2026-03-11 22:00
Application Checklist
Eligibility
Project Scope
Constraints
Summary
The African Development Bank's Sustainable Bond Program (established 2023, building on a Green Bond Program dating back to 2013) is a capital markets framework through which the AfDB issues green bonds, social bonds, and sustainability bonds to institutional investors. The proceeds are then channeled into the Bank's lending portfolio to finance eligible projects in its Regional Member Countries across Africa. The framework is aligned with ICMA's Green Bond Principles (2021), Social Bond Principles (2023), and Sustainability Bond Guidelines (2021), with independent verification from Moody's Investor Services. Eligible green project categories include renewable energy, sustainable mobility, energy efficiency, natural resources management (including fisheries, aquaculture, and coastal adaptation), and water/wastewater infrastructure. The framework also covers waste management — specifically anaerobic digestion of bio-waste, composting, and sustainable solid waste management systems. Social project categories include affordable basic infrastructure, essential services, employment generation, education, and socioeconomic empowerment of vulnerable populations. Critically, this is not a grant program or open call for proposals. The AfDB issues bonds on capital markets and uses the proceeds to finance projects through its standard sovereign and non-sovereign lending operations. Organizations seeking funding would need to access it through AfDB project financing channels — typically as part of government-sponsored projects or through the Bank's private sector window. The program has issued bonds in multiple currencies (USD, EUR, AUD, GBP, SEK, NOK, ZAR) and has a decade-long track record of green bond issuance.
Historical Context
The AfDB issued its first green bond in 2013, one year before the Green Bond Principles were established. The social bond program began in 2017. In September 2023, the Bank consolidated these into a unified Sustainable Bond Framework covering green, social, and sustainability bonds. Moody's Investor Services provides Second Party Opinions. The Bank publishes annual impact and allocation reports.
Why it was added
World Bank/dev bank waste management program
Sources
- https://afdb.org/en/topics-and-sectors/initiatives-partnerships/green-bonds
- https://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/green-bonds-program
- https://www.afdb.org/en/financial-products/financial-products/afdb-green-bonds
- https://www.afdb.org/en/documents/african-development-bank-sustainable-bond-framework
- https://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/green-bonds
- https://www.afdb.org/sites/default/files/2023/09/12/230912_afdb_sustainable_bond_framework_final.pdf
- https://www.afdb.org/en/financial-information/investor-resources/capital-markets/sustainable-bond-program
- https://www.afdb.org/en/financial-information/investor-resources/capital-markets/green-bond-program
- https://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/green-bonds-program/background
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