World Bank Issues Sustainable Development Bond on the SDG11 – Sustainable Cities and Communities
World Bank issued a 3-year sustainable development bond on SDG11 – Sustainable Cities and Communities, raising $50 million in Chinese yuan. The bond supports environmentally friendly city projects in alignment with Sustainability Bond Guidelines, facilitated by Gavekal Capital Limited and Bank plc.
International Bank for Reconstruction and Development (IBRD), the lending arm of the World Bank Group, issued a 3-year bond in Chinese yuan that raised around US$50 million. The money will help fund projects relating to environmentally friendly, sustainable cities. Gavekal Capital Limited and HSBC Bank plc helped the World Bank with the transaction.
World Bank bonds support financing programs that further the sustainable development goals (SDGs). World Bank bonds are aligned with the Sustainability Bond Guidelines published by the International Capital Market Association. As such, it supports financing a combination of sustainable development projects, programs and activities in IBRD member countries.