ShafDB approved to issue bonds to raise funds for housing project

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ShafDB has received a nod to issue bonds as a way of mobilising capital to fund its housing project in Africa.[File, Standard]

Shelter Afrique Development Bank’s (ShafDB) has received a nod to issue bonds as a way of mobilising capital to fund its housing project in Africa.

The approval comes after S&P Global Ratings confirmed that Shelter's Sustainability Finance Framework fully aligns with the International Capital Markets Association (ICMA) green and social bond principles and sustainability bond guidelines.

The rating firm also announced the official publication of ShafDB’s framework and the corresponding Second-Party Opinion (SPO).