Women's Livelihood Bond, a initiative by IIX, gets a $60 million funding in its seventh installment.
News Article: Women's Livelihood Bond 7 Empowers Women Across Asia
The Impact Investment Exchange (IIX) has launched the seventh instalment of its Women's Livelihood Bond (WLB7) series, aiming to empower more than 773,000 underserved women and girls in South and Southeast Asia. Founded by Bangladeshi-born US investment banker Shahnaz in 2009, IIX focuses on funding high-impact enterprises led by or serving women in India, Indonesia, the Philippines, and Sri Lanka.
The WLB7 bond, scheduled to raise $60 million in its first tranche, targets sectors including financial inclusion, water and sanitation, agriculture, and clean energy. These investments align with the United Nations Sustainable Development Goals such as No Poverty (SDG 1), Gender Equality (SDG 5), and Climate Action (SDG 13).
The bond includes a 4-year senior tranche ($52.8 million) and a $7.2 million first-loss subordinated tranche, backed by a 40% guarantee from the Swedish International Development Cooperation Agency (Sida). Notable investors in WLB7 include the International Finance Corporation (IFC), the Swedish International Development Cooperation Agency, the Australian Department of Foreign Affairs and Trade, the Ford Foundation, the Government of Canada, foundations such as Minderoo Foundation and Paul Ramsay Foundation, and financial institutions including ANZ Bank, Standard Chartered Bank, Nuveen, Impax, APG (on behalf of Dutch pension fund ABP), iGravity, and others.
The IFC has invested $10 million in WLB7, marking its first investment in the bond series. The significant investor interest in WLB7 showcases it as a sterling example of blended finance in action. Sarah Ng, ANZ's director, debt capital markets, commented on the oversubscription of WLB7, highlighting it as a testament to the resilience of the sustainable finance market.
WLB7 is certified by Sustainable Fitch under the Orange Bond Principles™, which promote gender-lens investing, and also complies with Green, Social, and Sustainability Bond guidelines, enhancing its credibility and ensuring alignment with international standards for impact investing. The bond is expected to be listed on the Singapore Exchange.
IIX's WLB series has been instrumental in mobilizing almost $500 million in private-sector capital, positively impacting over 160 million lives through its various initiatives. ANZ has been involved in all seven issuances in the WLB series. WLB7 is the seventh Women's Livelihood Bond issued by IIX, demonstrating a scalable model for blended finance in gender-lens impact investing. The proceeds from WLB7 will provide financial support for high-impact enterprises owned and operated by women, as well as disadvantaged communities, in the targeted regions.
In conclusion, the WLB7 bond represents a significant step forward in addressing systemic inequalities and climate challenges while empowering women and promoting sustainable development in South and Southeast Asia.
- The Women's Livelihood Bond 7 (WLB7) series, launched by the Impact Investment Exchange (IIX), is focusing on funding high-impact enterprises in alignment with the United Nations Sustainable Development Goals, particularly No Poverty (SDG 1), Gender Equality (SDG 5), and Climate Action (SDG 13), as it seeks to empower more than 773,000 underserved women and girls in South and Southeast Asia.
- IIX's WLB series, which includes the WLB7, has been successful in mobilizing almost $500 million in private-sector capital, demonstrating a scalable model for blended finance in gender-lens impact investing.
- The WLB7 bond, certified by Sustainable Fitch under the Orange Bond Principles™, has attracted notable investments from various sources, including the International Finance Corporation, the Swedish International Development Cooperation Agency, and financial institutions such as ANZ Bank and Standard Chartered Bank.
- The proceeds from WLB7 will be used to provide financial support for high-impact enterprises owned and operated by women, as well as disadvantaged communities, in the targeted regions, contributing to the energy transition, social impact, and sustainable development in South and Southeast Asia.
