📋 Tender Overview
IFC a member of the World Bank Group has issued its first social bond targeting US retail investors interested in achieving positive social impacts in emerging markets including in healthcare education and supporting women entrepreneurs. The inaugural Social Impact Note which pays a 1.70 fixed coupon and features a semi-annual call option after the second year raised 2.9 million for select projects including in countries like Haiti.The proceeds of the bond which is part of IFCs Social Impact Notes Program will finance projects that aim to improve access to affordable healthcare and education and socioeconomic advancement. The funds will also be used to support financial institutions that lend to small and medium enterprises as well as women entrepreneurs.The Social Impact Notes are distributed exclusively through Incapitals Legacy platform.John Gandolfo IFC Vice President Treasurer said IFCs inaugural Social Impact Note shows there is investor appetite for investments in ESG. The issuance has attracted US investors interested in targeting their financial investments to achieve positive social outcomes for vulnerable populations.Sylvain Kakou IFC Resident Representative for Haiti said We believe this inaugural issuance is a positive development with investors participating to support and promote projects with high impact for the people at a local level living in the most challenging environments such as Haiti. Fixed income investors are increasingly seeking opportunities that demonstrate impact said Jodi Waber Managing Director for Incapital. These IFC Social Impact Notes focused on projects in Haiti have captured the interest of individual investors served by our broker-dealer partners. This ongoing capital markets solution for targeting specific development needs will continue to play an important role in funding IFCs work.
