Part of series developed by UN Women and the Luxembourg Stock Exchange with the support of Luxembourg Aid & Devlopment, this case study highlights the Gender Bond Programme by the Asian Development Bank (ADB). ADB issued its first gender bond in November 2017 on the Luxembourg Stock Exchange. Through its Gender Thematic Bond programme, ADB has raised over US$3.655 billion as of March 2022. These use of proceeds gender bonds funds projects that target narrowing gender disparities and promoting the empowerment of women and girls. To achieve this, such projects would typically address one or more of the five areas and/or dimensions of gender equality and women’s empowerment. The five areas include: women’s economic empowerment, gender equality in human development, reduced time poverty, participation in decision-making and leadership, and resilience to shocks and stresses (e.g. climate change, disasters).