At a time when global climate funding is facing unprecedented pressure, the Impact Investment Exchange (IIX) has successfully priced the second tranche of its Women’s Livelihood Bond 7 (WLB7).
The move brings the total issuance to $92 million, signaling a massive win for the “Orange Bond”—a fast-emerging asset class that sits at the intersection of gender equality and environmental resilience.
The WLB7 is designed to provide critical capital to approximately 1 million women and girls across India, Indonesia, the Philippines, and Sri Lanka.
Unlike traditional single-sector investments, this bond utilizes a multi-sector approach to tackle the intertwined challenges of the modern era:
Clean energy & sustainable agriculture: Powering women-led climate action.
Healthcare & financial inclusion: Strengthening the social safety nets for underserved communities.
As geopolitical tensions and economic shifts stressed global climate frameworks in 2025, the Orange Movement emerged as a resilient alternative.
Orange Bonds, pioneered by IIX, are now recognized as one of the fastest-growing segments in the sustainable finance market.
The WLB series has shown remarkable growth, expanding from an $8.5 million debut in 2017 to a total of $320 million across seven issuances today.
“Investors are increasingly backing solutions that integrate gender equity with climate resilience,” said Durreen Shahnaz, founder and CEO of IIX.
“WLB7 reinforces that Orange Bonds can deliver measurable positive impact alongside market-aligned returns”.
The issuance is backed by a powerhouse coalition of private and public partners, including financial institutions Nuveen, APG, Standard Chartered Bank, and the International Finance Corporation, philanthropic leaders The Ford Foundation, Sida (Sweden), and the Clare Foundation, and legal experts Linklaters and Clifford Chance.
Roy Swan, director of mission investments at the Ford Foundation, emphasized that such investments are “essential to driving sustainable and equitable growth” for refugees and marginalized communities in South and Southeast Asia.
The WLB7 is expected to be listed on the Singapore Exchange (SGX).
It has received certification from Sustainable Fitch, confirming its alignment with both the Orange Bond Principles and the International Capital Market Association’s (ICMA) guidelines for Green, Social, and Sustainability bonds.
