Standard Chartered raises €1B social bond, 57% for India
Standard Chartered has launched its inaugural social bond, raising €1 billion (approximately ₹9,400 crore) to support sustainable development initiatives in developing economies, focusing on India.
The eight-year bond is aimed at facilitating lending to small and medium-sized enterprises (SMEs), thereby enhancing access to financing, job opportunities, and enabling women-owned businesses. The bond revenues will also finance core services such as healthcare and education, affordable infrastructure, and food security, aligned with the bank’s Sustainability Bond Framework.
Interestingly, 57% of Standard Chartered’s social capital is allocated to India, reflecting the country’s significance in the bank’s sustainable finance business. Other significant markets include Malaysia (10%), Bangladesh (6%), Mainland China (5%), and Nepal (4%).
This bond issue targets the substantial $4.2 trillion yearly investment shortfall required for sustainable development in emerging economies, reflecting Standard Chartered’s determination to mobilize private sector capital for inclusive growth.
Diego De Giorgi, Group Chief Financial Officer of Standard Chartered, highlighted the bank’s specific strength in raising money in the leading financial centers and investing it in areas where sustainable credit is most needed.
The fourth sustainable bond issue by Standard Chartered is a testament to strong global investor confidence in the bank’s sustainability strategy.
