CitySavings issues first social bond with investment from IFC

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TO expand financial inclusion and support human capital development in the Philippines, the International Finance Corp. (IFC) is investing $100 million in a social bond issued by City Savings Bank Inc. (CitySavings), the first thrift bank to issue a social bond.

TO expand financial inclusion and support human capital development in the Philippines, the International Finance Corp. is investing $100 million in a social bond issued by City Savings Bank Inc. , the first thrift bank to issue a social bond. The social bond follows ICMA's Social Bond Principles and the Asean Social Bond Standard.

's investment in CitySavings' social bond is part of a broader approach in the Philippines to work with partners to deepen capital markets for thematic bond issuances such as social, green and blue bonds.

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