US$228 million

Lives Impacted

Impact Enterprises



IIX’s award-winning Women’s Livelihood Bond™ (WLB™) Series is a series of innovative gender-lens blended financial products that empower women and girls across multi-country and multi-sector portfolios. The bonds in the WLB™ Series qualify as Orange Bonds, empowering marginalized communities across emerging markets.

About the WLB™ Series

By addressing the three dimensions of risk, return, and impact, IIX created a new kind of financial instrument that delivers stable returns and sustainable impact to investors.

The US$8.5m WLB1 was the world’s first gender-lens impact investing security listed on a stock exchange in 2017.

To date, the WLB™ Series has mobilized US$228 million and is empowering 2,600,000 women and girls across emerging markets while providing consistent returns with no defaults recorded even during the COVID-19 pandemic.

In 2023, IIX expanded the WLB™ Series to issue its sixth and largest bond, the US$100 million WLB6. As of January 2024, IIX has also successfully closed the WLB1 and WLB2, recording no defaults or calls on the credit protection layers while exceeding the bond’s impact targets.

IIX is now developing the seventh bond in the WLB™ Series, the WLB7 and is targeting a US$150 million issuance in Q4 2024.

Get Involved in Building a Gender-empowered Financial System

WLB6 issued as the world’s largest Orange Bond

Building on the success of the US$50 million WLB5, IIX issued the largest bond in the WLB™ Series, the US$100 million WLB6 in December 2023. The WLB6 invests across 6 sectors and 5 countries and will empower women across multiple sustainability themes such as Climate Action. The bond also qualifies as the largest Orange Bond to date.

Global Recognition
IIX and the WLB™ Series have been recognized across several international awards.

Engaging with a Diverse Range of Partners