Ebene/ Bujumbura, 24 August 2021 – The Eastern and Southern African Trade and Development Bank (TDB) is pleased to communicate its latest Global Finance awards honour for ‘Outstanding Leadership in Sustainable Finance by a Multilateral Institution’ for the Africa region.
The awards program recognizes “global and regional leadership in Sustainable Finance—funding for initiatives designed to mitigate the negative impacts of climate change and help build a more sustainable future for humanity”. This recognition therefore celebrates TDB’s commitment and excellence in delivering on its mandate to support and drive sustainable development in the region.
Sustainability at TDB is not done in a separate silo. It is it part of its DNA, and as such, the advancement of the sustainability agenda is driven via continued bank-wide transformation and impacts all areas of its balance sheet.
Every transaction TDB finances is expected to have a measurable development impact in the member states it serves – in line with SDGs, Agenda 2063 and the Paris Agreement. As of the end of 2020, 73% of TDB’s portfolio exposure was for transactions that had low or no environmental or social risk.
TDB is equipped with a robust ESG framework which comprises an Environmental and Social Management System (ESMS), a Sustainability and Development Impact Monitoring System (SDIMS), and a CSR Policy. Other policies like gender mainstreaming in projects, in addition to the Bank’s adherence to IFC Performance Standards and various partners’ ESG requirements, and sustainability-themed debt are further infusing impact-driven requirements in the deployment of capital in the region, and ensuring SDG and climate action content in TDB’s portfolio.
Internally, some policies geared at sustainability including diversity and inclusion, health and safety, gender sensitivity and staff wellness amongst others, in addition to staff learning and development programmes have enabled the creation of an environment that is conducive to sustainability.
To step-up impact, reach and sustainability, TDB launched in 2020 the Trade and Development Fund (TDF), the TDB Group’s concessional and grant window, bringing under its roof, a special SME Programme focused on women and youth, an Academy and technical assistance programmes.
Overall, new reforms, policies, programs, systems and other institutional innovations are pursued regularly and continue to mark TDB’s sustainability journey and impact in Member States.
This is TDB’s 8th award this year. TDB was recognized by Global Finance as Best Trade Finance Bank in Kenya and in Mauritius in the Trade and Supply Chain Awards, Best Bank in Ethiopia in its Country Awards, and for Top Innovations in Trade Finance for driving intra-African trade finance using blockchain technology. Also, this year, from Global Trade Review, it won a Leaders in Trade for Resilience award for its innovative approach to supporting trade in emerging economies and Best Deal of the Year for its support to a woman-owned Fair Trade business in Madagascar. Lastly, TDB also won African Banker Awards Infrastructure Deal of the Year jointly with Standard Chartered Bank and Nedbank, for its contribution to the Tanzania Standard Gauge Railway Loan Facility.