Finance : AfDB issues €1 billion 5-year social bond to fund inclusive projects

On May 21, 2025, the African Development Bank (AfDB), rated AAA, issued a €1 billion ($1.08 billion) 5-year Social Bond, its first in euros since May 2024. The bond, priced at Mid-Swaps +28bps, drew over €2.2 billion in orders. Proceeds will finance social and sustainable development under AfDB’s 2023 Sustainable Bond Framework.