A Namibian bank has become the first in the country to join Nasdaq’s Sustainable Bond Network in New York.

This follows Bank Windhoek’s issuance and listing of the nation’s first sustainability bond, which raised NAD227 million through private placement. Through the new bond, Bank Windhoek will evaluate social projects based on their primary objectives and impact, and report on the projects’ environmental and social effects.

‘The effects of climate change on our local environment and businesses are evident,’ says Ruan Bestbier, the bank’s sustainable investments and deal origination manager. ‘It is important to note that the proceeds of the sustainable bond will support a wide array of projects offering broad societal, economic and environmental benefits.’

Nasdaq’s Sustainable Bond Network offers investors a platform to access information for investment due diligence, selection and monitoring. Sustainability bonds are typically used to support socially and environmentally responsible projects such as renewable energy, energy efficiency, green building, sustainable waste management, sustainable agriculture and tourism, as well as investments into accessible and innovative healthcare and education facilities.

15 June 2021
Image: Namibian Investment Promotion & Development Board