BRIDGETOWN, Barbados – In a landmark move, the Caribbean Development Bank (CDB) announced on Wednesday the successful issuance of its first-ever sustainable bond, raising 100 million Swiss francs (approximately US $110 million). This five-year bond, carrying a fixed coupon of 0.59 per cent, marks a significant step under the bank’s newly established Sustainable Finance Framework. The issuance, which was met with robust demand, was priced at the top of its initial guidance, with the order book closing within just 90 minutes of opening. The proceeds from this bond will be directed towards funding projects in the bank’s borrowing member countries, focusing on critical areas such as renewable energy, climate adaptation, sustainable water management, and food security. The investor base was predominantly composed of treasury departments, which secured 62 per cent of the deal, followed by asset managers (17 per cent), private banks (11 per cent), and pension plans and insurance companies (5 per cent each). The CDB, which holds an Aa1/AA+/AA+ rating, emphasized that this transaction not only strengthens its yield curve but also underscores its dedication to embedding sustainability into its core operations. Established in 1970, the CDB serves 19 borrowing members across the Caribbean and nine non-borrowing members, including Brazil, Canada, China, and the United Kingdom. As of December 2024, the bank’s total assets were reported at US$2.02 billion.