In a groundbreaking move, NMB Bank proudly unveiled the NMB Jamii Bond, a transformative three-year sustainability bond designed to revolutionize East Africa’s financial landscape. This pioneering initiative is set to make history as the first-ever sustainability bond in the region, aligning seamlessly with global sustainability standards and the International Capital Markets Association’s (ICMA) guidelines.
The NMB Jamii Bond is underpinned by the bank’s Sustainable Financing Framework, a comprehensive blueprint that adheres to international best practices. To reinforce its commitment to sustainability, the Framework has received a favourable second-party opinion by Sustainalytics, further solidifying its credibility and aligning it with the highest environmental and social standards.
One of the primary objectives of this bond is to attract investors who not only seek a lucrative return on their investments but are also driven by a desire to contribute to crucial environmental and social projects in Tanzania. The bond aims to raise TZS 75 billion, with an additional green shoe option of TZS 25 billion, providing investors with a unique opportunity to be part of the sustainable transformation in the region.
The proceeds from the bond will be dedicated to supporting a range of impactful environmental and social projects. These projects span across critical areas such as renewable energy, sustainable water and wastewater management, green buildings, food security, and employment generation, among others.
For more information on this initiative visit www.nmbbank.co.tz