by: Gianfranco Belgrano | May 10, 2024
The International Fund for Agricultural Development (IFAD) yesterday issued its first private placement in Australian dollars (Aud), establishing “another milestone as an issuer of sustainable bonds in international markets and expanding its currency issuance pool”. Investor, Meiji Yasuda Life, a leading life insurer in Japan, has purchased a A$75 million 15-year sustainable bond to support IFAD in its mission to accelerate sustainable growth and inclusive development in rural areas of developing countries.
“This new agreement marks another step forward in positioning IFAD in the capital markets by entering the Aud market,” said Natalia Toschi, IFAD’s head of financing.
The bond proceeds will support smallholder farmers to increase their production, strengthen their resilience to climate and economic shocks, and access markets and value chains to improve their incomes and economic stability. Ifad pays particular attention to the African continent where it is present with many projects.
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