The Industrial Development Corporation (IDC) in South Africa has successfully issued a R2.046 billion sustainability bond, exceeding its initial target of R1.5 billion due to strong investor demand. The bond, oversubscribed at R3.464 billion, was issued in various tenors and will finance projects under IDC’s Sustainable Finance Framework, with a focus on renewable energy and green hydrogen initiatives. The International Finance Corporation (IFC) played a significant role by subscribing over R1 billion to anchor the issuance, demonstrating confidence in IDC's commitment to sustainable projects. IDC's CEO highlighted the market's confidence in their dedication to investing in sustainable and climate-resilient projects to strengthen South Africa's industrial sector. The bond will support various projects, including the commercialization of the local green hydrogen economy. This initiative aims to boost industrialization, employment, socioeconomic advancement, and finance climate and environmental initiatives. The IDC's CFO noted that IFC's subscription reflects investor confidence in IDC's sustainability efforts. The bond aligns with IDC's 'New Pathways for Sustainable Industrial Development Framework,' focusing on expanding industrial capacity in a socially inclusive and environmentally responsible manner. The collaboration between IDC and IFC is seen as a vital step in mobilizing capital towards impactful environmental and social projects, ultimately promoting economic empowerment and sustainable development in South Africa.