The African Development Bank (AfDB) issued a $3 billion, 3 Year social bond to fight the social and economic downturn related to the spread of COVID-19. The Fight COVID-19 Social Bond is the most significant US dollar-denominated bond in international capital markets. Although paying only 0.75 percent was heavily oversubscribed. Social Bonds enable, develop, and implement new and existing projects with a positive social outcome. Backed by Social Bond Principles to make the process transparent and more accountable, the proceeds target populations with disadvantages, including disabilities, marginalized communities, under-educated, etc., for specific. This is not the first time African Development Bank has tapped capital markets and an innovative way to fund projects in the social sector. Social bonds are part of the fast-rising sustainable bonds segment, fostering private capital for development purposes. Social bonds primarily focus on improving social outcomes and emphasizing climate action. In the future, this needs to be replicated by countries and other actors within the development sector, including Supranational Organizations, corporates, and governments. Further, its a key feature enabling public-private partnerships and fosters important financial structures, including blended finance.