The bond offered by the Impact Investment Exchange is expected to help 385,000 women in Cambodia, Vietnam, Philippines and other southeast Asian countries transition from subsistence to sustainable livelihoods.
It will provide credit and loans to microfinance institutions and women-oriented impact enterprises.
The four-year, 5.65% bond is part of a broader social bond initiative and could be a model for other bonds to finance energy, education, or at-risk youth. The bond was structured with support from DBS and ANZ banks. USAID provided a loan guarantee.
The Rockefeller Foundation provided grants for structuring and distribution.
Fundraising for the Women’s Livelihood Bond, originally pledged at the Clinton Global Initiative, took longer than anticipated, as investors sought additional risk-reduction provisions.