WAEMU’s First Green and Sustainable Bond Issue Ends with Great Success

The IMPAXIS Consortium, Lead Arranger and Lead Manager, Coris Bourse and EDC Investment Corporation, Co-Arranger and Co-Lead Manager, successfully closed the first green and sustainable bond issue of the West African Economic and Monetary Union (WAEMU), titled “GSS BIDC-EBID 6.50% 2024-2031.”

The bond issue, worth 70 billion FCFA, is a groundbreaking innovation on the regional financial market, marking the first “Green, Social and Sustainability” Bond (GSS) issue in UEMOA. The operation was completed in less than 5 days of placement, thanks to the enthusiasm of investors for the issuer, ECOWAS Bank for Investment and Development (EBID), and sustainable loans.

The resources raised will be used to finance projects that respect the taxonomy of green and sustainable bonds of the AMF-UMOA in the countries of the UEMOA zone. The securities will soon be available for free purchase and sale on the secondary market through approved intermediaries.

EBID’s Commitment to Sustainable Development

This is the eighth EBID bond issue, authorized under visa number: EOP/24-01 by the Financial Markets Authority (AMF-UMOA). The EBID, the ECOWAS Development Finance Institution, is committed to financing public and private sector development projects and programs in priority areas such as energy, water and sanitation, health, agriculture, and infrastructure in the region.

The Chairman of the Board of Directors of the EBID, Dr. George Agyekum Donkor, expressed the Bank’s satisfaction: “We thank the investors who continue to trust us and our partners in the Consortium who have been with us since the first tranche for the success of this operation. The effect of this loan is at the heart of the EBID’s mission, by financing key sectors that will contribute to achieving sustainable economic growth in the Member States, which is necessary for a better livelihood for the populations.”

A Milestone for the Regional Financial Market

The IMPAXIS Group thanked the EBID for the trust and acknowledged the significance of the bond issue. “The IMPAXIS Group would like to thank the EBID for trusting it with the 240 billion FCFA program that this portion has completed. This first GSS EBID Bond left its mark on the regional financial market and is an important turning point for our market. We also thank the investors who responded tremendously, showing great confidence in the EBID and desire for sustainable lending,” said Ababacar Diaw, Managing Director of SGI IMPAXIS, Organizer and Lead Manager of the Campaign on behalf of the Consortium.