The funds will primarily facilitate lending to small and medium-sized enterprises (SMEs), ensuring better access to finance, job creation, and support for women-owned businesses. The initiative aligns with the bank’s commitment to fostering economic empowerment and financial inclusion.
In addition to SME financing, the bond proceeds will support access to essential services such as healthcare and education. Investments will also be directed toward affordable basic infrastructure and food security, in line with the social activities outlined in Standard Chartered’s Sustainability Bond Framework.
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The top five countries where Standard Chartered’s social assets are located include India (57%), Malaysia (10%), Bangladesh (6%), Mainland China (5%), and Nepal (4%). Today, around $4.2 trillion in annual investment is needed across emerging markets to facilitate sustainable development, build resilience across businesses and communities, and facilitate enduring growth.
The proceeds raised from this inaugural social issuance will reference Standard Chartered’s Sustainable Finance asset pool, which includes $5.5 billion in social assets – with 99% of these located in Asia, Africa and the Middle East. This ensures that capital raised through this issuance will support markets where the demand for finance is greatest.
Diego De Giorgi, Group Chief Financial Officer at Standard Chartered, said, “Our first social issuance is an important milestone for the bank and demonstrates Standard Chartered’s unique ability to raise capital in the world’s largest financial centres and deploy it across borders, into those markets where the need for sustainable finance is most acute.”
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