AfDB sells first $39m Industrialise Africa theme bond

Development finance institution, the African Development Bank (AfDB), has sold an Industrialise Africa theme bond to Fukoku Mutual Life Insurance Company for $39.21-million. The bond, which will mature at the end of September 2027, will be used to support private sector industrial development and unlock the potential of small- and medium-sized enterprises (SMEs) in the industrial sectors.