IFAD Wins Best Issuer Award for ESG-Linked MTNs at GlobalCapital Ceremony in London
The International Fund for Agricultural Development (IFAD) has been recognized as the Best Issuer for ESG-Linked Medium Term Notes (MTNs) at the prestigious GlobalCapital MTN Awards held in London. The honor marks a major achievement for the Rome-based development institution, highlighting its growing leadership in sustainable finance and its ability to mobilize private capital for rural development worldwide.
The GlobalCapital MTN Awards are the only comprehensive awards dedicated exclusively to the MTN market, with winners selected by market participants themselves. This year’s recognition reflects strong industry confidence in IFAD’s transparent and impact-driven approach to issuing ESG-linked instruments that convert private investment into measurable development outcomes.
Diane Menville, Associate Vice-President and Chief Financial Officer at IFAD, described the recognition as an extraordinary milestone. She noted that being acknowledged alongside established financial institutions such as the International Bank for Reconstruction and Development and the Central American Bank for Economic Integration makes the award especially meaningful. IFAD entered international capital markets only in 2022, making its rapid ascent particularly noteworthy.
Since stepping into the capital markets, IFAD has successfully engaged a wide spectrum of investors, including private asset managers, central banks, mutual insurance companies, and publicly supported pension funds—many of which maintain strong ESG-focused mandates. This diversified investor base reflects growing global demand for financial instruments that combine solid returns with measurable social and environmental impact.
A cornerstone of IFAD’s capital market success has been its strong credit profile. The organization holds an AA+ credit rating from Fitch Ratings and an AA+ rating with a positive outlook from S&P Global Ratings. These high-grade ratings have played a crucial role in ensuring high-quality bond issuances and sustained investor confidence.
IFAD exclusively issues “use of proceeds” bonds, meaning all funds raised are allocated directly to high-impact investments. The capital supports smallholder farmers, rural communities, and local agribusinesses across developing countries, reinforcing IFAD’s core mission of advancing sustainable and inclusive rural development.
Since its inaugural issuance, IFAD has launched thirteen bonds, raising a total of US$1.1 billion. The award from GlobalCapital not only acknowledges IFAD’s excellence in ESG-linked MTN issuance but also signals the strengthening role of development institutions in shaping the future of sustainable global finance.
