Singapore-based Impact Investment Exchange has successfully closed the bond targeted at improving women’s livelihood in Asia – the second such debt issuance of its kind.
The bond is part of the «Women's Livelihood Bond» (WLB) series which aims to «create sustainable livelihoods» for over 2 million women across Asia. The WLBs are the first «gender lens bonds» for several countries in Asia including Indonesia, India, Sri Lanka and Cambodia. Impact Investment Exchange (IIX) – a Singapore-based bourse focused on issuing securities that generate both returns and real social or environmental impact – issued its first WLB in 2017 and its latest issuance raised $12 million.
«IIX’s [WLB] Series is setting the stage for a new gender-empowered financial system where women are truly valued and given a voice,» said IIX’s CEO and founder, Durreen Shahnaz. «Starting with the Asia-Pacific, we are building an entire ecosystem for gender lens investing by bringing together governments, businesses, multilateral and philanthropic organizations, and most importantly, investors, for women’s empowerment.»
More Supporters
IIX’s existing WLB supporters include the likes of the United States Agency for International Development (USAID), DBS Bank and ANZ. The latest issuance has attracted even more supporters such as the Rockefeller Foundation and Standard Chartered Bank. A third issuance is planned for the year and will look to expand to more countries and sectors.
«The Women’s Livelihood Bond Series is a prime example of catalytic capital at work – where risk-tolerant, impact-prioritizing funding is leveraged to unlock private sector capital,» said Rockefeller Foundation’s managing director of innovative finance, Lorenzo Bernasconi. «In this case, Rockefeller’s investment is expected to be amplified at least ten times by private investors, bringing critical funding to women-focused enterprises in Southeast Asia.»
«Our extensive network positioned us strongly as a significant contributor in securing interest from international investors, particularly institutional investors from Europe and the US focused on social impact,» added Henrik Raber, Standard Chartered’s global head of credit markets.
