CRDB Bank has listed its inaugural green bond, named 'Kijani', on the Luxembourg Stock Exchange (LuxSE) and its dedicated sustainable platform LGX, the Tanzanian lender announced on 30 June 2025. The TZS 171.8 billion ($65.7 million) instrument is the first green bond issued by a Tanzanian commercial bank to be admitted to LuxSE.
When it was first issued in October 2023, the bond was oversubscribed by 429%. Proceeds are earmarked for renewable energy, climate-smart agriculture, clean cooking energy, green buildings, sustainable transport, and water and sanitation projects across Tanzania.
GREEN BOND FRAMEWORK
CRDB describes the issue as among the largest green bonds in the region. Proceeds are tied to defined eligible green categories, and the bank's Green, Social and Sustainability Bond Framework carries an independent second-party opinion from Sustainalytics.
According to the bank, CRDB was the first commercial bank in East and Central Africa to be accredited by the UN Green Climate Fund (UN-GCF), in 2019. That accreditation enables the bank to channel up to $100 million in GCF funding into the Tanzania Agriculture Climate Adaptation Technology Deployment Programme (TACATDP), co-financed with an equal $100 million commitment from CRDB itself.
The bank has committed to annual reporting on the allocation and environmental impact of the funds raised through 'Kijani'.