ImpactAlpha, December 14 – Singapore-based IIX has raised $50 million for the fifth bond in its Women’s Livelihood Bond series. The bond will support 300,000 low-income women and girls in Asia and Africa. The bond is the first in the series to finance women-centric initiatives outside of Asia.

It is also the first designated under the Orange Bond Principles, which IIX spearheaded to shift capital in the $130 trillion global bond market to support women and girls. (Orange is the color used for Sustainable Development Goal No. 5, achieving gender equality.) The bond “will set the momentum for many Orange Bond transactions to come in the near future, making it a game changer for the sustainable financing market,” said Stephen Liberatore of Nuveen, an investor in the bond.

IIX is a pioneer of gender-focused listed bonds, launching its first Women’s Livelihood Bond in 2017. It raised $8 million.

The impact investment firm closed its fourth bond in the series, which invests in women’s climate resilience, earlier this year.

A portion of the fifth bond’s proceeds will also be used to “empower women to advance climate action,” the firm said.