ADB would be able to issue manat-denominated bonds - EXCLUSIVE

Asian Development Bank (ADB) is working closely with government officials, FIMSA, the Baku Stock Exchange and potential investors on a maiden bond issue for ADB in Azerbaijan manat, Ingrid van Wees, Vice-President for Finance and Risk Management, told Report.

According to her, the development of local currency bond markets is an inflection point for growth in developing countries and helps to mitigate borrowers from foreign exchange risk: "In 2019 ADB has already issued local currency bonds in Indonesian rupiah, Kazakhstan tenge and Philippine peso. We hope that in due course and time ADB would be able to issue also manat-denominated bonds."

In the post-Soviet space, ADB issued its first bonds in Kazakh tenge in the amount of $80 million in January 2019, in the Asia-Pacific region, the bank issued its first bonds in Philippine peso in the amount of $225 million in 2016.