Orange Bonds, a new financial initiative, will be key in facilitating sustainable development and inclusive economic growth in Bangladesh. By prioritizing gender equality, women's empowerment, and climate action, Bangladesh will make significant progress in its overall development index.
Lutfey Siddiqi, Special Envoy of the Chief Advisor on International Affairs of the Interim Government of Bangladesh, shared this perspective while speaking as a special guest at the international conference held at the SGX Auditorium in Singapore on Tuesday, 10 December 2024.
The forum, titled 'The Orange Forum 2024: Celebrating Inclusive and Sustainable Finance,' was organized by the Singapore-based Impact Investment Exchange (IIX). Over 300 global business leaders, changemakers, and innovators attended the event.
Lutfey Siddiqi emphasized that introducing Orange Bonds will create a new avenue for attracting public and private investment while strengthening Bangladesh's capital market. This initiative will contribute to the country's long-term stability and inclusive growth.
During the event, Durreen Shahnaz, Founder and Chief Executive Officer (CEO) of Impact Investment Exchange (IIX), highlighted the essence of the Orange Movement: "At its core, the Orange Movement challenges conventional finance, leveraging data, technology, and purpose-driven innovation to empower women and underserved communities. With 250,000 signatories to the Orange Pledge and nearly 3 million lives impacted, the Movement has proven that we create equitable and sustainable solutions when we embed inclusion in our financial systems.
During the exclusive dialogue with Prof. Lutfey Siddiqi of the Bangladesh Government, he shared his belief and support for the Orange Movement by endorsing $1 billion worth of Orange Bond issuance in each respective country in private and public domains.
Pol de Win officially inaugurated the conference, Senior Managing Director of Singapore Exchange, who expressed his pride in supporting the Orange Movement and its contributions to the financial sector.
Other notable speakers included the H. E. Allaster Cox, Australian High Commissioner to Singapore; Stephanie Copus Campbell, Ambassador for Gender Equality to the Australian Department of Foreign Affairs and Trade; H.E. Medardo Macaraig, Ambassador of the Philippines; and Ambassadors from Sri Lanka, South Africa, Republic of Rwanda, and Cambodia.
Key topics discussed at the conference included the financing and effectiveness of Orange Bonds, the context, and 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 Impact Investment Exchange (IIX). The initiative aims to raise 1 billion USD through multiple bond issues, supporting the country's long-term stability and inclusive growth, and demonstrating the government's commitment to successfully implementing the Orange Bond.
