1. Social Bond Principles (SBP).
In the context of its Social Bond Principles, the International Capital Market Association (ICMA) defines a social bond as any type of bond instrument where the proceeds will be exclusively applied to finance or re-finance eligible Social Projects.
Examples of social projects include:
- Affordable basic infrastructure, for example clean drinking water, sewers, sanitation, transport, energy
- Access to essential services including health, education and vocational training, healthcare, financing and financial services
- Affordable housing
- Employment generation including through the potential effect of SME financing and microfinance
- Food security
- Socioeconomic advancement and empowerment
Similar bond instruments, not necessarily fully compliant with the Social Bond Principles.