AfDB and Nomura Announce Sales of Education Support Notes
The African Development Bank (AfDB), a leading multilateral development bank, rated Aaa/AAA/AAA, and Nomura, Asia’s global investment bank, on Friday, September 6 finalized the terms of secondary distribution of AfDB’s education support notes to Japanese retail investors. The notes are denominated in Brazilian Real and have a three-year tenor. This is the first transaction the two organizations have collaborated together in this field. Education support notes issued by AfDB are underwritten by Nomura and distributed through Nomura’s nationwide domestic franchise.
The AfDB’s vision for Human Capital Development in Africa is to create jobs, provide equal opportunities and harness the potential of one billion people to promote inclusive growth. In the education sector, the Bank is supporting a New Education Model in Africa (NEMA) which is ICT-based (e-education and adaptive learning) with strong linkages to the labour market, fostering public-private partnerships.
AfDB will use its best efforts to direct an amount equal to the net proceeds of the issue of these notes to lending projects within the field of education support, subject to and in accordance with the Bank’s lending standards.
Nomura serves as a bridge between investors who wish to make a contribution to society through their investments and the financial needs of projects that aim to resolve the region’s many social issues.