Published on November 24th, 2016 | by Saurabh0
World Bank Issues $500 Million Green Bonds
November 24th, 2016 by Saurabh
On November 3, the World Bank announced that it raised $500 million through sale of green bonds to investors in the United States. The bonds were issued through the International Bank for Reconstruction and Development (IBRD).
Half of the funds raised came from Maryland State Treasurer’s Office while the balance was raised from private investors in the United States.
This also marked the first investment by the state of Maryland in green bonds.
“By buying World Bank green bonds, the State is investing in a high-quality product that meets the objectives of maximum security and highest investment returns, while at the same time supporting global climate action. It is also a message to our citizens, that the State of Maryland supports climate policies in all areas of government,” said Maryland State Treasurer Nancy Kopp.
The bonds are set to mature on November 22, 2021, but investors can opt for early redemption every quarter starting November 22, 2017. Investors will earn 1.75% interest on a semi-annual basis.
Since its first green bond launched in 2008, the World Bank has issued 127 green bonds in 18 currencies, totalling approximately $9.6 billion.
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