Enat Bank has entered a four-party partnership to develop what the partners describe as Ethiopia’s first private-sector gender bond. The bank signed a memorandum of understanding with FSD Ethiopia, I-Capital Africa Institute and FSD Africa to structure and launch the bond. The partners will collaborate throughout the pre-issuance and post-issuance phases. Their work will cover transaction structuring, framework development, regulatory compliance, investor engagement and post-issuance management in line with international best practices. Ermias Andarge (PhD), chief executive officer of Enat Bank, Gemechu Waktola (PhD), chief executive officer of the institute; and Hikmet Abdella, chief executive officer of FSD Ethiopia, formally signed the agreement. FSD Africa completed the four-party partnership by signing electronically. The agreement also provides for selecting an independent consultant to issue a second-party opinion consistent with international standards. The partners intend the assessment to ensure the bond’s full alignment with the International Capital Market Association Principles.

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