Inter-American Development Bank Launches Australian Dollar Education, Youth, and Employment Bond for Taiju Life

WASHINGTON, Feb. 10 -- The Inter-American Development Bank issued the following news release:

The Inter-American Development Bank ("IDB" or "IADB"), rated Aaa/AAA (Moody's/S&P), priced a new 1.5-year fixed rate bond in Australian Dollar under the Education, Youth, and Employment ("EYE") Bond program. Taiju Life Insurance Company is the sole investor of the bond with Daiwa Capital Markets America Inc. being the arranger.

This is IDB's first 'EYE' bond private placement in Australian Dollar targeted to a Japanese institutional investor, Taiju Life Insurance Company. The proceeds shall be directed to fund IDB project loans eligible under the EYE Bond program criteria. The projects under this program, that is in place since 2014, are designed to promote sustainable growth, poverty reduction and social equity in Latin America and the Caribbean.

The IDB has a "life cycle" approach to building human capital from early childhood care and education, through formal primary and secondary education, as well as programs that facilitate labor market placement by improving the transition from school to work through vocational training.

In this way, the IDB assists Latin American and the Caribbean countries to increase productivity and improve social inclusion of young people throughout key intervention stages.

View table at: https://www.iadb.org/en/news/idb-launches-australian-dollar-education-youth-and-employment-eye-bond-taiju-life