World Bank plans $3 billion of water sustainable development bonds

By Susanna Moon

Chicago, Aug. 29 – International Bank for Reconstruction and Development (World Bank) plans to price at least $3 billion of sustainable development bonds, according to a term sheet.

The sustainable development bond series is intended “to raise awareness of the critical role of water and ocean resources,” according to an announcement.

The focus for the new series is to support clean water and sanitation as well as life below water and follows bonds issued earlier in the year that targeted gender and health and nutrition, the release noted.

“Seventy percent of the planet’s surface is water, yet degraded ocean resources and lack of access to safe water negatively affect the lives of hundreds of millions of people,” Kristalina Georgieva, World Bank chief executive officer, said in the press release.

“Through this bond series we will remind investors and the markets that we must protect our water and marine resources today for the generations of tomorrow. As the world’s leading issuer of sustainable development bonds, we also offer an excellent opportunity to invest capital towards global public goods.”

The global development financing cooperative is based in Washington, D.C.

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