Gender Bonds

In February 2024 we published Gender Bonds: A Toolkit for the Design and Issuance of Gender Bonds in Africa, in partnership with FSD Africa, FSD Network Gender Collaborative Programme, and UN Women. 

Like other sustainable bonds designed to achieve social impact, such as green or social bonds, gender bonds are a mechanism to channel financing into projects focused on reducing gender inequalities and promoting women’s empowerment. While the number of gender bonds globally is on the rise, African markets represent the lowest rates of issuance in the global marketplace, pointing to a need for more specific guidance on the issuance process.  This toolkit provides an overview of gender bonds in African markets, bringing together recent case studies and existing resources, and provides guidance on design for issuance. We are hopeful that this publication will enable further issuance of gender bonds across Africa to address gender inequities and foster economic growth.

Navigating the guide

The toolkit is organised into two parts: an introduction to gender bonds in Africa and a step-by-step guide to the gender bond issuance process. Learnings from recent gender bonds issued in Africa and other relevant resources are incorporated throughout.

The process begins with setting the groundwork for a gender bond and concludes with monitoring and reporting its result. Bond issuers can utilise the Toolkit in its entirety or by unique section for those seeking specific guidance.

CONTENTS

• Foreword
  • Factsheet
  • Overview
    • Introduction
    • Gender Bond Issuance Process
  • Issuer Groundwork
    • Qualifying Project Categories and Investment Eligibility Criteria
    • Issuer Framework
  • Gender Bond Structures
    • External Review
    • Issue the Bond
    • Post-issue Monitoring and Reporting
  • Conclusion
    • Gender Equality Glossary
    • Appendices