Press Release

Jakarta, 11 Agustus 2026 — Indonesia memiliki salah satu pasar obligasi berdenominasi mata uang lokal terbesar di Asia Tenggara, dengan nilai surat berharga beredar mencapai sekitar Rp7.800 triliun (setara USD480 miliar). Pemerintah Indonesia juga telah menunjukkan kepemimpinan global dalam keuangan berkelanjutan, termasuk sebagai penerbit sukuk hijau terbesar di dunia, sebuah instrumen pembiayaan inovatif yang kini direplikasi oleh negara-negara berkembang lainnya. Surat berharga pemerintah mencakup lebih dari 90% pasar obligasi domestik, mencerminkan peran sentral obligasi pemerintah sekaligus menjadi fondasi yang kuat bagi pengembangan keuangan berkelanjutan ke depan.

Di tengah kondisi tersebut, Indonesia mencatat tonggak baru dengan menjadi negara dengan komitmen penerbitan Orange Bond terbesar di dunia sekaligus negara pertama yang menerbitkan Orange Sukuk. Pencapaian ini justru didorong oleh sektor korporasi. Jika penerbitan obligasi tematik di Indonesia selama ini banyak ditopang oleh pemerintah, transaksi ini menandai semakin besarnya peran korporasi dalam mendorong keuangan berkelanjutan, sekaligus membuka potensi pertumbuhan pasar yang saling melengkapi.

Dengan latar belakang tersebut, Indonesia terus mendorong upaya mobilisasi Orange Capital, bekerja sama dengan Kementerian Perencanaan Pembangunan Nasional (Bappenas), untuk mendukung pemberdayaan perempuan, anak perempuan, dan kelompok minoritas gender, dengan fokus khusus pada aksi iklim dan pembangunan berkelanjutan yang responsif gender.

Untuk memperkuat momentum tersebut, PT Bursa Efek Indonesia (BEI), BRI Danareksa Sekuritas (BRIDS), dan Impact Investment Exchange (IIX), pelopor global investasi berdampak yang menciptakan Orange Bond, menyelenggarakan Indonesia Thematic Bonds Roundtable dengan tema “Indonesia’s Trillion-Rupiah Opportunity: Advancing an Inclusive and Resilient Economy through Thematic Bonds” pada 11 Agustus di Main Hall Bursa Efek 

Forum ini mempertemukan calon penerbit obligasi dan para pelaku pasar modal untuk membahas perkembangan pasar obligasi tematik di Indonesia, termasuk kerangka kerja sebelum dan sesudah penerbitan (pre- and post-issuance framework) yang diterapkan oleh para penerbit, dengan Orange Bond sebagai studi kasus utama. Selain itu, forum ini juga akan membagikan pembelajaran dan praktik terbaik dari berbagai penerbitan obligasi tematik, sekaligus merumuskan langkah-langkah konkret untuk memperluas pipeline transaksi obligasi berbasis dampak (impact-linked bonds) di Indonesia.

Listyorini Dian Pratiwi, Wakil Direktur Pengembangan Perusahaan Tercatat Bursa Efek Indonesia, mengatakan, “Momentum saat ini memberikan keyakinan kepada kami bahwa target perolehan dana dari penerbitan instrumen utang berkelanjutan sebesar lebih dari Rp200 triliun pada 2030, sebagaimana ditetapkan dalam Sustainable Finance Roadmap, dapat tercapai. Nilai perolehan dana dari instrumen utang berkelanjutan terus menunjukkan tren peningkatan dan sejak 2023 telah berkontribusi lebih dari 10% terhadap total nilai perolehan dana instrumen utang kami. Penerbitan Orange Bond dan Orange Sukuk oleh PNM tahun lalu yang menjadi terobosan baru juga menunjukkan adanya permintaan yang jelas dari pasar Indonesia terhadap peluang investasi yang berfokus pada gender. Seiring dengan terus bertumbuhnya basis investor di pasar kami, kami meyakini pasar Indonesia mampu menyerap lebih banyak penawaran instrumen utang berkelanjutan yang inovatif dengan skala lebih besar di masa mendatang.”

Prof. Shahnaz, CEO dan Founder Impact Investment Exchange (IIX), mengatakan, “Di IIX, selama lebih dari dua dekade kami telah membangun infrastruktur pasar modal yang menyalurkan investasi swasta untuk mendorong kesetaraan gender dan ketahanan iklim. Indonesia telah lama menjadi pasar prioritas bagi kami, mengingat skala pasar modalnya serta ambisi agenda keuangan berkelanjutannya. Penerbitan perdana Orange Bond di Indonesia, yang didorong oleh sektor korporasi, membuktikan bahwa modal tematik dapat bergerak melampaui neraca pemerintah dan masuk ke arus utama pasar. Seiring Indonesia berupaya memobilisasi Orange Capital sebesar USD10 Miliar pada 2030, kami terus bekerja bersama para mitra ekosistem, termasuk BEI, BRIDS, serta para penerbit, investor, dan regulator yang membentuk pasar ini, untuk menjalankan misi kami membangun perekonomian yang inklusif dan tangguh melalui pasar modal yang memberikan manfaat bagi semua. Roundtable ini merupakan bentuk kolaborasi yang kami butuhkan untuk mewujudkannya.”

Fifi Virgantria, Plt. Direktur Utama BRIDS, mengatakan, “Obligasi tematik membuka peluang besar untuk menghubungkan kebutuhan pembiayaan korporasi dengan meningkatnya minat investor terhadap keberlanjutan. Sebagai Joint Lead Underwriter (JLU) yang telah menerbitkan sejumlah Obligasi dan Sukuk terkait Orange, termasuk untuk PNM dan FIF, BRIDS melihat langsung potensi tersebut dan berharap kolaborasi bersama BEI dan IIX dapat mempercepat pengembangan pipeline penerbit obligasi tematik di Indonesia.”

Roundtable ini menghadirkan paparan utama dari Bursa Efek Indonesia, pengenalan mengenai Orange Bond dan peluang pasar oleh IIX, serta sesi talk show yang menghadirkan BRI Danareksa Sekuritas, IIX, dan PT Permodalan Nasional Madani (PNM), dilanjutkan dengan sesi tanya jawab dan networking.

Indonesia Thematic Bonds Roundtable menjadi inisiatif penting dalam pembangunan pasar untuk memperluas partisipasi korporasi dalam pasar obligasi tematik, sekaligus mendukung ambisi nasional memobilisasi Orange Capital sebesar USD10 miliar pada 2030, sejalan dengan posisi Indonesia sebagai perekonomian terbesar di Asia Tenggara.

Untuk mempelajari lebih lanjut mengenai Orange Capital dan kerangka Orange Bond, kunjungi https://orangemovement.global/. 

Jakarta, 11 August 2026 — Indonesia is home to one of the largest local currency bond markets in Southeast Asia, with outstanding securities reaching approximately IDR 7.8 quadrillion (equivalent to USD 480 billion). The Government of Indonesia has also demonstrated global leadership in sustainable finance, including as the world’s largest issuer of green sukuk — an innovative financing instrument now replicated by other developing countries. Government securities account for more than 90% of the domestic bond market, reflecting the central role of sovereign bonds and a strong foundation for the future development of sustainable finance.

Amid these conditions, Indonesia has recorded a new milestone: becoming the country with the world’s largest Orange Bond issuance commitment and the first country to issue Orange Sukuk. This achievement was in fact driven by the corporate sector. While thematic bond issuance in Indonesia has historically been anchored by the government, this transaction marks the increasingly significant role of corporations in advancing sustainable finance, while also opening up growth potential for a complementary market.

Against this backdrop, Indonesia is advancing efforts to mobilize Orange Capital, in collaboration with the Ministry of National Development Planning (Bappenas), to support the empowerment of women, girls, and gender minorities, with a particular focus on climate action and gender-responsive sustainable development.

To build on this momentum, the Indonesia Stock Exchange (IDX), BRI Danareksa Sekuritas (BRIDS), and Impact Investment Exchange (IIX), the global impact investing pioneer that invented the Orange Bond, held the Indonesia Thematic Bonds Roundtable, themed “Indonesia’s Trillion-Rupiah Opportunity: Advancing an Inclusive and Resilient Economy through Thematic Bonds” on 11 August at the Main Hall of the Indonesia Stock Exchange, Jakarta. 

The forum brought together prospective issuers and capital market participants to discuss developments in Indonesia’s thematic bond market, as well as the pre- and post-issuance engagement by issuers. It also shared lessons learned and practical tips from bond issuances, particularly Orange Bonds, and helped formulate concrete steps to expand the country’s pipeline of sustainable finance transactions.

Listyorini Dian Pratiwi, Vice Director of Listed Companies Development, Indonesia Stock Exchange, said, “The current momentum gives us confidence that we will be able to meet our target of over Rp200 trillion in sustainable debt issuance proceeds by 2030, as outlined by the Sustainable Finance Roadmap. Sustainable debt instruments continue to trend upwards in proceeds value, contributing more than 10% to our total debt instruments proceeds value since 2023. The groundbreaking Orange Bonds and Orange Sukuk issuance last year by PNM also shows that there is a clear demand from the Indonesian market for gender-focused investment opportunities. As our market investor base continues to grow, we believe that we have the ability to absorb even more innovative sustainable debt offerings of bigger sizes in the future.”

Prof. Shahnaz, CEO and Founder, Impact Investment Exchange (IIX), said, “At IIX, we’ve spent over two decades building the capital markets infrastructure that channels private investment toward gender equality and climate resilience — and Indonesia has long been a priority market for us, given the scale of its capital markets and the ambition of its sustainable finance agenda. Indonesia’s inaugural Orange Bond issuances, driven by its corporate sector, are proof that thematic capital can move beyond government balance sheets and into the mainstream. As Indonesia works toward mobilizing USD 10 billion in Orange Capital by 2030, we continue to work with ecosystem partners — including IDX, BRIDS, and the issuers, investors, and regulators shaping this market — to pursue our mission of building inclusive, resilient economies through capital markets that work for everyone. This roundtable is exactly the kind of collaboration that gets us there.”

Fifi Virgantria, Acting President Director of BRIDS, said, “Thematic bonds open up major opportunities to connect corporate financing needs with investors’ growing interest in sustainability. As a Joint Lead Underwriter (JLU) that has issued several Orange-linked Bonds and Sukuk — including for PNM and FIF — BRIDS sees this potential firsthand, and hopes that collaboration with IDX and IIX can accelerate the pipeline of thematic bond issuers in Indonesia.”

The roundtable featured a keynote presentation from the Indonesia Stock Exchange, an introduction to Orange Bonds and market opportunities by IIX, and a talk show featuring BRI Danareksa Sekuritas, IIX, and PT Permodalan Nasional Madani (PNM), followed by a question-and-answer session and networking.

The Indonesia Thematic Bonds Roundtable serves as a key market building initiative for expanding corporate participation in the thematic bond market, while supporting the national ambition to mobilize USD 10 billion in Orange Capital by 2030 — in line with Indonesia’s position as the largest economy in Southeast Asia.

To learn more about Orange Capital and the Orange Bond framework, visit https://orangemovement.global/.

Impact Investment Exchange (IIX) and Kore Global Consulting Inc. have officially signed a Memorandum of Understanding (MoU) with the Orange Movement™, establishing an Alliance Partnership focused on advancing gender equality, women’s economic empowerment, and climate-smart investing through inclusive capital markets.

The Partnership connects Kore Global’s expertise in social finance, gender-lens investing, and inclusive economic development with the Orange Movement™’s global mission to mobilize US$10 billion by 2030 and empower 100 million women, girls, and gender minorities worldwide. The agreement formalizes a five-year collaboration aligned with UN SDG 5: Gender Equality, through which both organizations will work to strengthen the ecosystem for gender-smart capital, deepen impact measurement and accountability, and promote inclusive, gender-equitable financial systems globally.

As a recognized Orange Alliance Partner, Kore Global joins a growing international community of organizations committed to the Orange Bond Principles — a framework for directing capital toward gender equality outcomes. The Orange Alliance is backed by a global steering committee that includes IIX, the U.S. International Development Finance Corporation (DFC), Nuveen, DFAT, Standard Chartered, Minderoo Foundation, and ANZ.

Emily Boost, CEO, Kore Global, commented “Joining the Orange Alliance is an exciting milestone for Kore Global. It recognises our commitment to advancing women’s economic empowerment through evidence, learning, and gender-smart investing, while connecting us to a global movement working to reshape financial systems so they deliver greater value for women, communities, and the planet. We look forward to contributing our expertise in gender-lens investing and impact measurement while collaborating with others to strengthen the standards, practices, tools, and evidence needed to accelerate progress toward a more equitable and sustainable future.” 

“The Orange Movement is moving fast, and it needs to. At a time when capital is contracting and the global order is reshuffling, we are doing the opposite by scaling. Partners like Kore Global are exactly who we need in this movement. Partners that understand that closing the gender financing gap is the most important systems-level investment of our time, and that gender equality is not a side agenda but the architecture of resilient economies,” said Dr. Sarah Pearson, Chair, Orange Movement. 

The Orange Movement™ is a global initiative mobilizing capital to position women, girls, and gender minorities as leaders in climate action, sustainable peace, and economic prosperity. Inspired by UN SDG 5 on Gender Equality, it represents a strategic convergence where inclusion and sustainability drive more effective outcomes — activating financial markets through orange capital instruments to address persistent funding gaps and place underrepresented leaders at the centre of delivering the Sustainable Development Goals.

To date, the Orange Movement™ has mobilized close to US$2 billion in Orange Capital — cementing its place as one of the fastest-growing asset classes in sustainable finance. This is evidence that the Movement’s interconnected pillars of capital, policy, and data do not just create inclusive financial instruments — they are research-backed, they build the market infrastructure, they create scale across diverse markets in ways that a single product or approach never could. Kore Global’s entry into the Alliance adds further depth to that ecosystem, bringing the advisory expertise and relationship capital needed to translate the Orange Movement’s ambitions into ground-level impact.

Get involved in shaping a more gender-equal world that advances economic prosperity, sustainable peace, and climate resilience. Learn more at: Orange Movement

Bangladesh today took a landmark step in its economic transformation, as the Orange Economy Summit 2026: Dhaka edition convened at the Dhaka Stock Exchange to chart a practical roadmap to mobilize capital for long-term, inclusive and climate-resilient growth backed by US$100 million earmarked for Bangladesh through the Orange Climate Fund, a one billion dollar blended finance platform investing in climate-resilient and inclusive growth across the Global South. Hosted by Impact Investment Exchange (IIX) in partnership with the Dhaka Stock Exchange (DSE) and the Policy Research Institute of Bangladesh (PRI), the Summit brought together senior government officials, regulators, financial institutions, corporates, development partners, and global market leaders around a shared agenda: deepening Bangladesh’s financial markets to unlock global inclusive capital for long-term, resilient economic growth.

Held at a pivotal moment in Bangladesh’s economic transition, the Summit focused on strengthening the country’s Orange capital ecosystem and positioning Bangladesh within the growing global Orange Movement, a quiet revolution making inclusive capital markets the norm across the globe. Inspired by the United Nations Sustainable Development Goal 5 on Gender Equality, the Movement mobilizes capital to empower women, girls, and gender minorities as leaders in climate action, sustainable peace, and economic prosperity. Through interconnected pillars of capital, policy, and data, it is mobilizing US$15 billion by 2030.

The Movement gave rise to Orange Bonds, one of the fastest-growing thematic capital market instruments, alongside Orange Sukuk, loans, and related instruments that channel capital into sectors from clean energy to financial inclusion. Beyond individual products, the framework establishes the standards, transparency, and accountability that enable capital to flow into investable, resilient markets. Orange instruments have supported inclusive growth and economic resilience in markets including Indonesia, Japan, and Vietnam, and Bangladesh holds a central position in the Movement’s long-term vision for Orange Capital in South Asia.

Bangladesh enters this phase with an established foundation. Over more than a decade, IIX has mobilized US$18 million (BDT 220 crores) into the country, investing directly in enterprises across agritech, healthcare, clean energy, and financial services, connecting them to over 1,300 investors worldwide, and strengthening their governance and investment readiness. Companies including SOLshare, iFarmer, and MedEasy have earned the Orange Seal™, a verified performance standard for climate action and gender equality recognized by international investors. The Summit built on the most significant milestone to date: the country’s first domestic USD 12.8M (BDT 158.50 Crore) Orange Bond issuance in 2026 by SAJIDA Foundation, a proof point that Orange-aligned instruments can work in Bangladesh, and explored concrete pathways to mobilize capital into strategically critical value chains including Ready Made Garments (RMG), Agriculture and Agro-processing, and Energy Transition.

Delivering the opening keynote, Prof. Durreen Shahnaz, Founder and CEO of IIX, set out the strategic need for transforming Bangladesh’s financial markets into engines of inclusion and resilience for sustained growth – and laid out IIX’s long-term commitment to making that happen.

“Almost fifty years ago, Bangladesh etched its name in history as the birthplace of financial inclusion, one of the first nations to ask who financial systems are actually supposed to serve. IIX has been building on that legacy for over a decade, mobilizing US$18 million into Bangladeshi enterprises, connecting them to over 1,300 investors worldwide, and supporting them through Orange Seal certification to the country’s first Orange Bond. The next phase is the Orange Climate Fund, a one billion dollar blended finance platform investing in climate-resilient and inclusive growth across the Global South, with US$100 million earmarked for Bangladesh to invest in critical sectors such as RMG, energy, financial services, and climate resilience. This capital will do more than support growth sectors; it will attract international investors, deepen capital markets, and strengthen Bangladesh’s long-term economic resilience until Bangladesh stands as a leading Orange economy in South Asia”

Welcoming participants to the Dhaka Stock Exchange, Ms. Nuzhat Anwar, Managing Director, DSE, stated:

“Bangladesh is entering a phase where the depth and sophistication of our financial markets will increasingly determine the pace of our progress. Deepening the bond market and expanding sustainable finance instruments are not simply market-development objectives; they are strategic economic priorities. The opportunity now is to build a broader ecosystem that attracts both domestic and international investors. The Dhaka Stock Exchange is committed to supporting this evolution by encouraging the issuance of Orange Bonds, working with partners across the ecosystem to build the Orange Capital value chain, and facilitating the development of new capital market products that meet the needs of a modern economy. The future of Bangladesh’s economy will be shaped not only by the strength of its enterprises, but by the strength of the financial markets that support them.”

Dr. Md. Habibur Rahman, Deputy Governor, Bangladesh Bank, remarked:

“Bangladesh’s next phase of economic development will depend not only on the performance of its industries, but also on the strength and sophistication of the financial systems that support them. As the economy becomes more diversified and globally competitive, expanding access to long-term capital and deepening domestic capital markets will be critical. Initiatives such as the Orange Movement can help channel investment toward national priorities by promoting transparency, strengthening market confidence, and directing capital into productive, sustainable sectors. By working together to strengthen market foundations and expand access to capital, Bangladesh can build a financial system capable of supporting its long-term economic ambitions.”

A key feature of the Summit was the unveiling of a joint study by IIX and PRI titled “Building the Orange Capital Ecosystem in Bangladesh”. The study makes the case that the fundamentals are already in place: Bangladesh has regulatory momentum, growing capital demand, and portfolios ready for deployment. What is needed now is the market architecture to match, and the Orange Movement™ provides that blueprint for a scalable, accountable, and high-impact financial market, channeling capital toward economic transformation, gender equity, and climate resilience. To get there, the study sets out a four-phase pathway: building the evidence base, activating the ecosystem, mobilizing capital, and ultimately establishing a self-sustaining Orange market for Bangladesh.

The Summit also featured regional experience-sharing on Orange markets by IIX from other emerging economies, with experts from Indonesia and the wider Southeast Asia region sharing first-hand perspectives on how inclusive finance structures, enabling policy environments, and credible impact verification have unlocked capital for inclusive and climate-resilient growth.

The Dhaka Summit marks the first regional edition of the Orange Economy Summit series — a global series of convenings designed to bring Orange principles directly to markets around the world, with each Summit rooted in the economic realities of its host country. Further editions will be announced in the coming months. 

Building on this convening, IIX will continue to work with DSE, PRI, and development partners to advance the Orange capital ecosystem and lay the groundwork for sustained institutional investment into Bangladesh’s most critical growth sectors.

Across seven issuances since 2017, IIX has met all bondholder obligations through COVID-19 and the geopolitical pressures of 2025. With the pricing of WLB7’s second tranche, the series will reach approximately 1 million lives across India, Indonesia, the Philippines, and Sri Lanka.

The sustainable finance ecosystem was already under strain. Geopolitical shifts had unsettled the multilateral climate frameworks that underpinned much of the sector’s growth. Development funding had tightened across major donor markets. For parts of the ecosystem built on stable conditions and concessional capital, the cracks were showing.

Nevertheless, capital continued to flow. Impact Investment Exchange (IIX) has announced the successful pricing of the second tranche of its award-winning Women’s Livelihood Bond™ (WLB™) Series, with WLB7b bringing total issuance across both tranches to US$92 million. The seventh issuance in the WLB Series is set to reach approximately 1 million lives across India, Indonesia, the Philippines, and Sri Lanka, deploying capital across clean energy, sustainable agriculture, healthcare, and financial inclusion, with women and underserved communities at the center of each investment.

The result reflects a design choice made nearly a decade ago. When IIX listed WLB1 on the Singapore Exchange in 2017, the world’s first gender-lens impact investing security on a public exchange, the US$8.5 million debut was built on a three-layer blended capital stack with DFI credit enhancement and third-party verification. The structure was intended to replicate, not just to close. Seven issuances and approximately US$320 million later, all bondholder obligations have been met, including those arising from COVID-19, supply chain disruptions, and the pressures of 2025.

WLB’s multi-sector scope reflects the reality of the communities the bond serves. Climate resilience, healthcare, food security, and financial inclusion are not separate challenges; they are experienced simultaneously. By centering investments on women and underserved communities, who are disproportionately impacted across all of these areas, WLB7b, Similar to its predecessor bonds in the series, is able to address multiple priorities within a single financial structure. 

WLB7 is certified as an Orange Bond, a cross-cutting asset class dedicated to financing at the nexus of climate action and gender equality. Orange Bonds have moved from an experiment on the margins of sustainable finance to one of the asset class’s fastest-growing segments. The stress of 2025 did not change that trajectory, and the WLB track record helps explain why institutional investors continued to allocate.

The transaction attracted a strong coalition of investors and partners, including Nuveen, APG, International Finance Corporation, the Swedish International Development Cooperation Agency, the Ford Foundation, Clare Foundation, Standard Chartered Bank, Linklaters, and Clifford Chance.

“This latest issuance in the Women’s Livelihood Bond™ Series builds on a strong foundation and points to where the market is heading,” said Durreen Shahnaz, Founder and Chief Executive Officer of Impact Investment Exchange. “Investors are increasingly backing solutions that integrate gender equity with climate resilience. That shift is unlocking more capital for enterprises addressing the needs of historically underserved communities. WLB7 reinforces that Orange Bonds can deliver measurable positive impact alongside market-aligned returns.”

“The Ford Foundation is proud to support IIX and WLB7 as part of our commitment to building an economy that works for everyone. This investment is a critical tool for improving the livelihoods of women, refugees, and marginalized communities in South and Southeast Asia. Our partnership with IIX reflects our belief that a more inclusive financial system is not only possible, but essential to driving sustainable and equitable growth,” said Roy Swan, Director of Mission Investments, Ford Foundation.

“As demand grows for investments that integrate attractive relative value, blended finance and impact, Orange Bonds are emerging as a credible and scalable segment of the sustainable finance market,” said Stephen M. Liberatore, CFA Head of ESG/Impact for Global Fixed Income, Nuveen. “WLB7 reflects the strength of this model in mobilizing capital at scale and directing it toward solutions that improve livelihoods and build climate resilience. Having been invested in the WLB Series since WLB2, we have seen its evolution firsthand and believe there is significant potential for continued growth, enabling further issuances that can expand impact across underserved communities.”

WLB7 is listed on the Singapore Exchange and has received certification from Sustainable Fitch Limited as the Second Party Opinion Provider, confirming alignment with the Orange Bond Principles™, as well as the International Capital Market Association’s Green Bond Principles, Social Bond Principles, and Sustainability Bond Guidelines. It will also comply with EU and UK securitization regulations.

Singapore, 30 April 2026 — Impact Investment Exchange (IIX) today announced the successful pricing of the second tranche of the Women’s Livelihood Bond™ 7 (WLB7), bringing total issuance across both tranches to US$92 million. This seventh issuance is set to impact approximately 1 million women and girls across India, Indonesia, the Philippines, and Sri Lanka, deploying capital across clean energy, sustainable agriculture, healthcare, and financial inclusion, with women and underserved communities at the center of each investment, particularly those on the frontlines of climate risk.

In 2025, the global sustainability project faced its most serious stress test in a decade. Geopolitical tensions placed pressure on climate frameworks, while development funding tightened amid intensifying climate shocks. The year highlighted structural challenges across parts of the sustainable finance ecosystem, particularly where models relied on stable conditions and concessional capital.

WLB7b is certified as an Orange Bond, a cross-cutting asset class pioneered by IIX and global partners under the Orange Movement™, dedicated to financing at the nexus of gender equality and climate action. Once a bold experiment at the margins of sustainable finance, Orange Bonds are now one of the fastest-growing segments in the market. 

WLB7 is built on IIX’s signature blended finance structure, an award-winning model widely recognized as a benchmark for mobilizing private capital at scale in underserved markets, and structured for replication across geographies and successive issuances. The story of the WLB Series is, in many ways, the story of the last decade of global uncertainty. IIX launched the world’s first gender lens impact investing security on a stock exchange, WLB1,  in 2017 with a US$8.5 million debut. Through COVID-19, supply chain disruptions, and shifting geopolitical conditions, the WLB Series continued to attract capital and deliver returns. Today, it has grown to approximately US$320 million across seven issuances, helping to lay the foundation for the broader Orange Bond asset class and demonstrating that integrating gender equity and climate resilience into financial structures can be both scalable and durable.

This multi-sector investment approach of WLB bonds, including WLB7b reflects the reality of the communities the bonds serve. Climate resilience, healthcare, food security, and financial inclusion are not separate challenges, they are experienced simultaneously. By centering investments around women and underserved communities, who are disproportionately impacted across all of these areas, Similar to its predecessor bonds in the series, WLB7b is able to address multiple priorities within a single financial structure. This also speaks to the strength of Orange Bonds as a cross-cutting asset class, and why inclusion is increasingly recognized as foundational to effective climate action.

The WLB Series model brings together concessional and private capital in a way that enables risk-sharing while delivering market-aligned returns. It has continued to operate across varying market conditions, including periods of global disruption.

The transaction attracted a strong coalition of investors and partners, including Nuveen, APG, International Finance Corporation, the Swedish International Development Cooperation Agency, the Ford Foundation, Clare Foundation, Standard Chartered Bank, Linklaters, and Clifford Chance.

“This latest issuance in the Women’s Livelihood Bond™ Series builds on a strong foundation and points to where the market is heading,” said Durreen Shahnaz, Founder and Chief Executive Officer of Impact Investment Exchange. “Investors are increasingly backing solutions that integrate gender equity with climate resilience. That shift is unlocking more capital for enterprises addressing the needs of historically underserved communities. WLB7 reinforces that Orange Bonds can deliver measurable positive impact alongside market-aligned returns.”

“The Ford Foundation is proud to support IIX and WLB7 as part of our commitment to building an economy that works for everyone. This investment is a critical tool for improving the livelihoods of women, refugees, and marginalized communities in South and Southeast Asia. Our partnership with IIX reflects our belief that a more inclusive financial system is not only possible, but essential to driving sustainable and equitable growth,” said Roy Swan, Director of Mission Investments, Ford Foundation.

“As demand grows for investments that integrate attractive relative value, blended finance and impact, Orange Bonds are emerging as a credible and scalable segment of the sustainable finance market,” said Stephen M. Liberatore, CFA Head of ESG/Impact for Global Fixed Income, Nuveen. “WLB7 reflects the strength of this model in mobilizing capital at scale and directing it toward solutions that improve livelihoods and build climate resilience. Having been invested in the WLB Series since WLB2, we have seen its evolution firsthand and believe there is significant potential for continued growth, enabling further issuances that can expand impact across underserved communities.”

WLB7 is expected to be listed on the Singapore Exchange and has received certification from Sustainable Fitch Limited, acting as the Second Party Opinion Provider, confirming alignment with the Orange Bond Principles™, as well as the International Capital Market Association’s Green Bond Principles, Social Bond Principles, and Sustainability Bond Guidelines. It will also comply with EU and UK securitization regulations.

Jakarta, 27 April 2026 – The Ministry of National Development Planning/Bappenas of the Government of Indonesia and the Impact Investment Exchange (IIX) officially signed two cooperation documents at the Bappenas Building in Jakarta on Monday (April 27). The two documents are a Memorandum of Understanding and a Cooperation Agreement, to establish a Partnership for Strengthening the Sustainable Development Ecosystem and Resource Synergy to Support the Development of Women’s Entrepreneurship through the SDGs Entrepreneurial Center.

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Jakarta, 27 April 2026 – Kementerian PPN/Bappenas dan Impact Investment Exchange (IIX) secara resmi menandatangani dua dokumen kerja sama di Gedung Bappenas, Jakarta, Senin (27/4). Kedua dokumen kerja sama tersebut adalah Nota Kesepahaman dan Perjanjian Kerja Sama untuk mengembangkan Kemitraan dalam  Penguatan Ekosistem Pembangunan Berkelanjutan dan Sinergi Sumber Daya untuk Mendukung Pengembangan Kewirausahaan Perempuan melalui SDGs Entrepreneurial Center.

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Thành phố Hồ Chí Minh – Ngày 10 tháng 3 năm 2026 – Hôm nay, các nhà đầu tư quốc tế, các nhà hoạch định chính sách, tổ chức hỗ trợ hệ sinh thái và doanh nghiệp tạo tác động đã gặp gỡ tại TP. HCM để cùng thảo luận một trong những thách thức cấp thiết nhất của Việt Nam – thu hút nguồn vốn tư nhân toàn cầu để giải quyết các vấn đề xã hội và môi trường. Diễn đàn “Kết nối đầu tư tác động: Nguồn vốn cho tăng trưởng” do Trung tâm Xúc tiến Thương mại và Đầu tư Thành phố Hồ Chí Minh (ITPC) và Quỹ Đầu tư Tác động IIX phối hợp tổ chức với sự hỗ trợ của Bộ Các vấn đề Toàn cầu Canada (GAC). Diễn đàn tập trung tìm kiếm các giải pháp tài chính hỗn hợp cho doanh nghiệp nhỏ và vừa (DNNVV) và doanh nghiệp tạo tác động kết nối với thị trường vốn toàn cầu.

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Ho Chi Minh City, Vietnam – March 10, 2026 – International investors, Vietnamese policymakers, impact investing ecosystem enablers, and impact enterprises gathered in Ho Chi Minh City today to tackle one of Vietnam’s most pressing development challenges – attracting global private capital for addressing social and environmental issues. Supported by Global Affairs Canada (GAC), the “Vietnam Impact Connect: Capital for Growth” was co-hosted by the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC) and Impact Investment Exchange (IIX) to explore blended finance solutions for Vietnamese SMEs and Social Impact Businesses (SIBs) to connect with the global capital market.

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