British International Investment Commits $15 Million to NMB Bank’s Inaugural Sustainability Bond in Tanzania
British International Investment (BII), the UK’s development finance institution and impact investor, has committed $15 million equivalent in Tanzanian Shilling to NMB Bank’s inaugural sustainability bond offering, named the NMB Jamii Bond. This investment aims to support NMB Bank’s efforts in advancing sustainable finance and promoting environmental and social initiatives in Tanzania.
Key Points:
- British International Investment (BII) has made an anchor commitment of $15 million equivalent in Tanzanian Shilling to NMB Bank’s inaugural sustainability bond offering, known as the NMB Jamii Bond.
- NMB Bank, based in Tanzania, is launching its sustainability bond to raise funds for projects that align with environmental and social impact goals.
- The bond, named NMB Jamii Bond, reflects NMB Bank’s commitment to sustainable finance and its role in supporting initiatives that contribute to positive environmental and social outcomes.
- British International Investment (BII) serves as the UK’s development finance institution and impact investor, focusing on supporting projects with developmental impact in emerging markets.
- The commitment from BII is expected to contribute to the financing of projects that promote sustainability and have a positive impact on Tanzanian communities.
- NMB Bank’s sustainability bond is designed to attract investors interested in supporting initiatives with environmental, social, and developmental benefits.
- The investment aligns with the broader global trend of increasing interest and investment in sustainable finance and impact-oriented projects.
- The NMB Jamii Bond is part of NMB Bank’s strategic approach to responsible banking, emphasizing sustainable practices and contributing to the achievement of environmental and social development goals.
Source: British International Investment