Nairobi, Aug. 17 -- The board of directors of Shelter Afrique Development Bank (ShafDB) has approved the establishment of a programme to issue Sh64.61 billion ($500 million) bonds across the East African capital markets.

This marks a significant step towards the launch of the regional debt instrument, which had been held back due to unfavourable market conditions.

A disclosure by the Pan-African housing financier said that the establishment of the East African Bond Issuance Programme was among key decisions by its board.

"The board of directors exercised rigorous oversight through several landmark resolutions designed to expand the bank's footprint and financial resilience. In addition, the board approved the establishment of the East ...