Japan issues 1st gender bonds to promote female empowerment, education

Tokyo, Sep 27 The Japan International Cooperation Agency (JICA) issued the country's first gender bonds on Monday to promote empowerment and education of women and ensure gender equality in developing nations.

Through issuing bonds with maturities of 10 years and 20 years, the government-backed aid agency in total raised 20 billion yen ($181 million) to fund projects in places where women do not have the same opportunities as men to receive education, work, and participate in political activities, reports Xinhua news agency.

According to JICA, women-focused assistance became even more important in the current situation, as more females were subject to domestic violence and deprived of chances for employment or education during the period of the Covid-19 pandemic, and that people spent more time at home under some anti-virus measures partly caused the increase in violence against women.

Gender equality is among the 17 sustainable development goals set by the UN.

The JICA's gender bonds are part of the social bonds designed to address various challenges.

Besides gender bonds, JICA has launched bonds designed to achieve specific targets such as "TICAD bonds" to help African development and the bonds to help developing countries improve medical systems and enhance public health amid the Covid-19 pandemic.