Abai Shaikenov (Partner), Vassiliy Zenov (Partner), Ali Imanalin (Senior Associate) and Aizhan Zhumagazina (Associate) advised the Asian Development Bank (ADB) on listing and placement of the first gender bonds due December 2030 on the Kazakhstan Stock Exchange.

The gender bond placement helped to raise KZT 8.4 billion (approximately US$ 20 million) for financing the KZT 38 billion Promoting Gender Equality in Housing Finance Project, which aims to expand the lending operations of the Housing and Construction Savings Bank of Kazakhstan (Otbasy Bank) and promote affordable residential mortgage loans for women borrowers in rural areas.

“ADB is gratified to contribute to the development of Kazakhstan’s thriving capital markets,” said ADB Treasurer Pierre Van Peteghem. “This inaugural tenge-denominated gender bond follows soon after our first green bonds last November and underlines the catalytic nature of ADB’s borrowing program in Asian local currencies.”

ADB is an international financial institution established on December 19, 1966, focused on promoting social and economic development in Asia and the Pacific.