ADB, AIIB back Pakistan's historic Panda Bond
MG News | May 15, 2026 at 04:59 PM GMT+05:00
May 15, 2026 (MLN): The Asian Development Bank (ADB)
and the Asian Infrastructure Investment Bank (AIIB) have joined forces to back
Pakistan's debut Panda bond, which marks the first time a partial credit
guarantee has been used to secure a domestic AAA rating in the People's
Republic of China (PRC) for a bond with less than 100% guarantee coverage,
setting a landmark precedent for mobilizing private sector capital in emerging
markets.
The collaboration between the two multilateral lenders is
being seen as a significant milestone in deploying guarantee mechanisms to help
developing nations access the PRC's onshore capital market.
The CNY 1.75 billion (approximately $258 million)
sustainable development bond was well received by investors, with confidence in
the instrument attributed to the strength of the guarantee structure
underpinning it, according to a press release issued.
It was noted by ADB Director General for Central and West
Asia Leah Gutierrez that competitive pricing had been secured through the
transaction, with the guarantee framework credited for enabling terms.
Proceeds from the bond are to be channelled into subprojects
spanning water governance, energy efficiency, and healthcare capacity under
Pakistan's Sustainable and Green Infrastructure Project.
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