---
title: "African Development Bank Issues First MAD 1B Bond"
description: "African Development Bank completed its first Moroccan dirham bond of MAD 1 billion, a seven year private placement indexed to MONIA."
canonical_url: "https://liners.com/news/african-development-bank-moroccan-dirham-bond-mad-1b"
markdown_url: "https://liners.com/news/african-development-bank-moroccan-dirham-bond-mad-1b.md"
type: "article"
language: "en"
published_at: "2026-10-31T09:54:00.155Z"
updated_at: "2026-10-31T09:54:02.647Z"
---

# African Development Bank Issues First MAD 1B Bond

African Development Bank completed its first Moroccan dirham bond of MAD 1 billion, a seven year private placement indexed to MONIA.

## Breadcrumbs

- [News](/news)
- [African Development Bank Issues First MAD 1B Bond](/news/african-development-bank-moroccan-dirham-bond-mad-1b)

## Related articles

- [Pickalbatros Secures $250M IFC, Attijariwafa Financing](/news/pickalbatros-250m-ifc-attijariwafa-financing-morocco)
- [EBRD Expands Attijari bank Tunisia Risk-Sharing to €70M](/news/ebrd-attijari-bank-tunisia-risk-sharing-70m-esg-facility)
- [Turuq Innovations Gets Seed Funding From Den VC](/news/turuq-innovations-seed-funding-den-vc)
- [OPay Lists On NYSE At $19 Per ADS, $4B Valuation](/news/opay-nyse-ipo-19-ads-4b-valuation)

## Content

## In Short
The African Development Bank has completed its first bond issuance denominated in Moroccan dirhams, totalling MAD 1 billion. The Bank says the deal supports its push to expand local currency financing in Morocco.

## What Happened
The African Development Bank completed the transaction as a private placement with qualified investors.

The bond has a seven-year maturity. It carries a floating interest rate indexed to the Moroccan Overnight Index Average, known as MONIA, which is a benchmark rate based on overnight lending costs.

The Bank said the issuance is part of a broader strategy to diversify its financing offering in Morocco by adding the dirham alongside its main financing currencies, notably the euro and the US dollar. It said this would help it serve a wider range of clients and offer financing better tailored to client needs.

Beyond the issuance, the Bank said it is considering establishing a dedicated dirham treasury portfolio. It said this portfolio could be funded by converting a portion of its foreign currency liquidity, aiming to support the gradual development of its local currency financing capabilities in Morocco.

The Bank said it chose Morocco for this pilot initiative based on its long-standing partnership with the Kingdom, the size of its portfolio of operations in the country, client demand for financing in dirhams, and the maturity of the Moroccan financial ecosystem.

It also said it intends to contribute, alongside the Moroccan government and local market participants, to deepening the national financial market. This includes developing hedging instruments and strengthening liquidity in the derivatives market.

The Bank thanked Morocco’s Ministry of Economy, Finance and Public Performance, Bank Al-Maghrib, and the Moroccan Capital Markets Authority for their support. It also thanked Attijari Finances Corp. as financial adviser, plus [Attijariwafa bank](/attijariwafa-bank) and CDG Capital as lead managers.

## Why It Matters
Local currency financing can reduce mismatches between the currency of a borrower’s revenues and the currency of its debt. The Bank said lessons learned from the Moroccan issuance will help guide the gradual roll-out of other African currencies.

## Sources and products

- [African Development Bank Group](https://www.afdb.org/en/news-and-events/press-releases/african-development-bank-completes-inaugural-98090)
- [Attijariwafa bank](/attijariwafa-bank)

## Related pages

- [Funding & Acquisitions](/news)

## Access and citation

- [Canonical HTML page](https://liners.com/news/african-development-bank-moroccan-dirham-bond-mad-1b)
- [Markdown route index](/sitemap.md)
- [Agent access guide](/llms.txt)