Improving Governance in Africa

Allocation of proceeds greenbonds An amount equal to the net proceeds of the bonds will be allocated within the treasury's liquidity portfolio, to a sub- portfolio, that will be linked to the AfDB's lending operations in the fields of climate change adaptation and mitigation ("eligible projects") So long as the bonds are outstanding, the balance of this sub- portfolio will be reduced, at the end of each semester, under the Bank's debt allocation framework, by amounts matching the disbursements made during the semester in respect of eligible projects 63

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