Housing-focused Pan-African multilateral development bank Shelter Afrique plans to issue a $ 500 million (Sh64.83 billion) sustainability-linked bond focused on East Africa in the first quarter of 2027. A sustainability-linked bond is a type of bond in which the issuer’s financial or structural terms change based on whether it reaches specific environmental, social, or governance goals. Shelter Afrique said the multi-currency bond will be floated in Kenya, Uganda, Tanzania, and Rwanda.

“We are in the space of mobilising resources from our local markets. We are currently in the market in West Africa where we are issuing about 60 billion CFA francs in the monetary union to finance housing projects in local currency,” Shelter Afrique MD and CEO, Thierno-Habib Hann, said while speaking at the second Bullish Africa Summit in New York.