Svasti Microfinance Raises $5M From IIX's Women's Livelihood Bond 5, the World's First Orange Bond Issuance
Mumbai-based Svasti Microfinance Private Limited (Svasti) has received $5 million through Non-Convertible Debentures from Singapore-based Impact Investment Exchange (IIX)'s Women's Livelihood Bond 5 (WLB5). WLB5 is the fifth issuance under IIX's Women's Livelihood Bond™ (WLB) Series, which is the world's first gender-lens bond compliant with International Capital Markets Association and listed on a stock exchange. Through five successful bond issuances, the WLB™ Series has mobilized over $128 million – leading to improved livelihoods and economic resilience for more than 1.3 million women across Asia-Pacific and Africa.
The proceeds of this four-year Non-Convertible Debenture will go toward empowering women through income-generating activities and promoting sustainable livelihoods. IIX recently launched the Orange Bond Initiative™, which is the world's first asset class built by and for the Global South and the 99 percent as a solution to financing gender equality. The Initiative's mission is to empower ~100 million women and girls worldwide through unlocking $10 billion by 2030.