Orange Bonds to accelerate sustainable development, economic progress in Bangladesh
Special envoy for International Affairs of the interim government of Bangladesh addressed an International Conference at Singapore
Orange Bonds, a new financial initiative, are set to play a crucial role in driving sustainable development and inclusive economic growth in Bangladesh. By focusing on gender equality, women's empowerment, and climate action, the initiative aims to significantly improve the country's development index.
Lutfey Siddiqi, special envoy of the principal adviser on International Affairs of the interim government of Bangladesh, shared this vision while addressing the international conference held at the SGX Auditorium in Singapore on 10 December.
The event, titled The Orange Forum 2024: Celebrating Inclusive and Sustainable Finance, was organised by the Singapore-based Impact Investment Exchange (IIX) and attracted over 300 global business leaders, changemakers, and innovators.
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Siddiqi stressed that the introduction of Orange Bonds would open new channels for attracting both public and private investment while strengthening Bangladesh's capital market. He highlighted that this initiative would contribute to the country's long-term stability and inclusive growth.
Durreen Shahnaz, founder and CEO of IIX, explained the essence of the Orange Movement, which challenges traditional finance by using data, technology, and purpose-driven innovation to empower women and underserved communities. With over 250,000 signatories to the Orange Pledge and nearly 3 million lives impacted, the movement has shown that embedding inclusion in financial systems leads to equitable and sustainable solutions.
In an exclusive dialogue with Siddiqi, Shahnaz discussed the endorsement of a $1 billion Orange Bond issuance in both private and public sectors across countries.
Pol de Win, senior managing director of Singapore Exchange, officially inaugurated the conference and expressed pride in supporting the Orange Movement's contributions to the financial sector.
Other distinguished speakers included HE Allaster Cox, Australian High Commissioner to Singapore; Stephanie Copus Campbell, Australian Ambassador for Gender Equality; HE Medardo Macaraig, Ambassador of the Philippines; and ambassadors from Sri Lanka, South Africa, Rwanda, and Cambodia.
The conference covered key topics such as the financing and effectiveness of Orange Bonds, as well as the future strategic direction of the Orange Movement.
In November 2024, the Government of Bangladesh officially launched the Orange Bond in partnership with UNDP and IIX, aiming to raise $1 billion through multiple bond issues.
