As a longtime investor in positive impact bonds, Praxis Mutual Funds® has invested in a new impact-oriented bond through the Social Bond Program from International Finance Corporation, a member of the World Bank Group.
Purchased by the Praxis Impact Bond Fund, this bond will expand financing for projects that benefit women-owned enterprises and low-income communities in emerging markets.
“The IFC has established an innovative program for social good, of which we are glad to be a part,” said Benjamin J. Bailey, CFA, Praxis Mutual Funds Senior Fixed Income Investment Manager. ”As a recognized leader in green and sustainable bond purchases, the Impact Bond Fund has built a reputation for seeking out high-quality investments and solid returns.”
The bond will be used to finance projects that help improve the lives of people who may not get financing from traditional sources. It will fund companies that buy from smaller-scale farmers, provide utilities for low-income households, and/or offer affordable health services, education or housing to low-income people. The funds will also support financial institutions that lend to women-owned endeavors.
“Sustainable bonds present an innovative way for Praxis to support global efforts of making financing more accessible,” said Bailey. “Each of us benefits when more people can improve their lives and expand their options.”
Positive impact investments now make up more than 25 percent of the Praxis Impact Bond Fund. In addition to bonds, the Fund’s high social impact investments include a 1 percent commitment to community development investments in nonprofits that benefit underprivileged communities nationally and around the world. Learn more about how the Praxis Impact Bond Fund is investing to impact climate and community.
About Praxis Mutual Funds and Everence®
Praxis Mutual Funds, advised by Everence Capital Management, is a leading faith-based, socially responsible family of mutual funds designed to help people and groups integrate their finances with values. To learn more, visit praxismutualfunds.com.
Everence helps individuals, organizations and congregations integrate finances with faith through a national team of advisors and representatives. Everence offers banking, insurance and financials services with community benefits and stewardship education. To learn more, visit everence.com or call (800) 348-7468.