ShafDB has received a nod to issue bonds as a way of mobilising capital to fund its housing project in Africa. [File, Standard]
Shelter Afrique Development Bank’s (ShafDB) has received a nod to issue bonds as a way of mobilising capital to fund its housing project in Africa.
The approval comes after S&P Global Ratings confirmed that Shelter's Sustainability Finance Framework fully aligns with the International Capital Markets Association (ICMA) green and social bond principles and sustainability bond guidelines.
The rating firm also announced the official publication of ShafDB’s framework and the corresponding Second-Party Opinion (SPO).
The framework, developed with the technical assistance of the Global Green Growth Institute (GGGI), through the Global Trust Fund (GTF) for Sustainable Finance, establishes the bank's comprehensive framework for the issuance of green, social and sustainable (GSS) financing instruments.
The framework further identifies eligible project categories, aligning it with international market standards and strengthening the bank's readiness to access sustainable capital markets.
It also aligns ShafDB's funding strategy with internationally recognised market principles, including the ICMA green and social bonds principles, sustainability bond guidelines and the LMA green and social loan principles.
The independent SPO, issued by S&P Global Ratings, confirms that the framework is aligned with international market standards and recognises its strong contribution toward financing housing and urban infrastructure projects that deliver meaningful environmental and social benefits across Africa.