Catalytic Capital | December 14, 2021

Women’s Livelihood Bond from Impact Investment Exchange closes at $30 million

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, December 14 — Proceeds from the fourth bond will support social enterprises that can impact 500,000 underserved women and girls in India, Indonesia, Cambodia and the Philippines.

Singapore-based IIX launched the Women’s Livelihood Bond series in 2017 to help low-income women in Southeast Asia find sustainable livelihoods. IIX has raised $77.7 million for the series to date, including $27.7 million for its third bond last December.

“We’re building an entirely new asset class by and for the Global South that empowers developing countries with real results,” said IIX’s Durreen Shahnaz. Public and private investors, including USAID, Standard Chartered Bank, Barclays, backed the fourth bond.

Catalytic capital

IIX’s Women’s Catalyst Fund provided first-loss capital for the fourth bond. The fund is backed by a $10 million loan from the U.S. International Development Finance Corp. and a grant from the Australian Department of Foreign Affairs and Trade.

By leveraging such catalytic capital, IIX is “demonstrating that collaboration is the way forward for inclusive growth and women’s empowerment,” said DFC’s Algene Sajery.