The World Bank has priced a 10-year Global Sustainable Development Bond, raising EUR 1.5 billion from institutional investors around the globe, to finance its sustainable development activities.
The oversubscribed bond was managed by Barclays, J.P. Morgan, Natixis and TD Securities as the lead managers for the transaction.
The timing of this bond coincides with the first workshop, “Catalyzing Global Savings to Advance Our Sustainability Goals” held in Dublin on May 15-16, 2019, that convenes bond issuers, investors, and other key market participants for action on the Sustainable Development Goals (SDGs).
“Ireland has articulated an ambitious strategy to help achieve the sustainable development goals, through the new development policy “A Better World”. Working together with the development and financial community is a key part of our strategy. We welcome the World Bank’s new sustainable development bond to raise awareness for SDGs that are aligned with our priority areas of prioritizing gender equality, reducing humanitarian need, climate action, and strengthening governance” said Paschal Donohoe TD, Minister for Finance & Public Expenditure and Reform, Ireland.
The World Bank’s goals of ending extreme poverty by 2030 and promoting shared prosperity in a sustainable manner are aligned with the SDGs. Increasingly, investors and other market participants are using the SDGs as a framework for investment and way to communicate support for specific development priorities. With this Sustainable Development Bond, the World Bank raises awareness for SDG#2 (Zero Hunger), SDG#5 (Gender Equality), SDG#13 (Climate Action), and SDG#16 (Peace, Justice and Strong Institutions).
“This bond demonstrates strong interest and commitment of investors to support the Sustainable Development Goals through World Bank bonds. We appreciate their continued support and the collaboration with our Irish partners as we work together to leverage the capital markets and connect finance to a more equal, peaceful and sustainable world” said Jingdong Hua, World Bank Vice President and Treasurer.