Islamic Development Bank Issues USD 2.5 Billion Sustainability Sukuk; Largest Public Issuance to Date

The Islamic Development Bank (IsDB) has issued USD 2.5 billion in Sustainability Sukuk with a five-year maturity, under its USD 25 billion Trust Certificate Issuance Programme, according to an official IsDB statement released on the 25th of March 2021.

Why it Matters?

The Sustainability Sukuk marks IsDB’s largest public issuance to date and is its inaugural issuance in 2021. Proceeds of the Sustainability Sukuk will be used to finance and refinance green projects (10%), with the remaining proceeds used towards social development projects (90%), under the IsDB’s Sustainable Finance Framework. The issuance also marks IsDB’s second AAA-rated Sustainability Sukuk in the global capital markets and the th...