ADBs Water Bond soon

KATHMANDU: Asian Development Bank (ADB) and Daiwa Securities Group today announced ADB’s planned issuance of its inaugural Water Bond to finance work in the water sector in Asia and the Pacific.

The Water Bond is expected to have two tranches, denominated in Australian dollars and South African rands, and will be issued in April. ADB will provide assistance amount at least equal to the net proceeds of the notes to water-related projects in Asia and the Pacific, said the Manila-based bank in a statement.

The issuance will be arranged by Daiwa Securities Capital Markets Co Ltd, the wholesale securities firm under Daiwa Securities Group, and will be distributed by Daiwa Securities Co Ltd, the Group’s retail securities firm, to Japanese retail and institutional investors.

ADB launched the Water Financing Programme to double investment in the sector between 2006 and 2010. A successor programme for 2011-2020 is being drafted.