Invest in Sustainable Livelihoods

Across Asia, many underserved women continue to be excluded from a dignified life. They remain trapped in subsistence living, preventing women—and consequently their families and communities—from becoming a catalytic force for society.

The award-winning US$150M Women’s Livelihood Bond™ Series tackles this issue head on by creating sustainable livelihoods for over 3 million women across Asia.

Forming part of the Series, the Women’s Livelihood Bond™ 3 (WLB3) will build on the success of the WLB1 and WLB2.

Women’s Livelihood Bond 2

In January 2020, IIX successfully closed the US$12 million Women’s Livelihood Bond 2 (WLB2), the Asia-Pacific’s second multi-country gender bond to be listed on a stock exchange (the Singapore Exchange), creating sustainable livelihoods for 250,000+ underserved women in the region. The WLB2 is the second bond in the award-winning WLB Series, which has gained new support from The Rockefeller Foundation, The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the United Nations Capital Development Fund (UNCDF), Standard Chartered Bank, Latham & Watkins, Cyril Amarchand Mangaldas, and UN Women.

Women's Livelihood Bond 1

The Women’s Livelihood Bond 1 is an award-winning US$8 million bond for impact enterprises and microfinance institutions to grow their businesses and scale social impact. It is the world’s first listed bond with dual focus on financial and social returns, empowering the lives of over 385,000 women in Southeast Asia.

IIX monitors the borrowers’ social performance, including calculating their Social Return on Investment (SROI).

How the Bond Works

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WLB™ is structured to create a “basket” (Special Purpose Vehicle- SPV) of Impact Enterprise issuers. Through that SPV, WLB™ raises funds from investors seeking financial and social returns.


Proceeds from the bond are lent to the basket of Microfinance Institutions and Impact Enterprises whose activities benefit women


Microfinance Institutions and Impact Enterprises are better able to serve women beneficiaries and improve their access to finance, essential goods, income-generating assets and vocational training

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Women effectively transition from rural subsistence living towards sustainable livelihoods – through access to credit, market linkages and affordable goods.

On the Ground with WLB1

“Before getting a loan, I had challenges providing for my children’s daily allowance when they go to school as well as financing my family’s livelihood from sugarcane farming. [With the support from the WLB1], it became easier to borrow money as long as you are a good payer and you work hard to earn.”  —Gina
The WLB1 empowers underserved women by enhancing access to finance, income-generating assets, and skills so that they can invest in themselves and their families’ long-term wellbeing. In the case of Gina from the Philippines, sending her children to school was not an affordable option until she received a loan funded by the WLB1, and was able to finance her children’s future.

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