World Bank and Credit Suisse partner to focus attention on sustainable use of oceans and coastal areas

The World Bank issued a USD 28.6 million 5-year Sustainable Development Bond as part of ongoing efforts to raise awareness for the vital role fresh and saltwater resources play for people, livelihoods, and the planet.

Credit Suisse Securities (Europe) Ltd., through its Impact Advisory and Finance Department, acted as the sole manager of the transaction.

World Bank bonds support the financing of sustainable development projects and programs across a range of critical development sectors in member countries. This includes projects designed to promote strong governance of marine and coastal resources to support sustainable fisheries and aquaculture, make coastlines more resilient, establish coastal and marine protected areas, and those which improve solid waste management to reduce pollution in waterways and oceans.

This “Blue Economy” approach supports economic growth, social inclusion and the preservation or improvement of livelihoods while at the same time ensuring the environmental sustainability of oceans and coastal areas.

“World Bank bonds provide an opportunity for investors to engage on purpose, impact and the Sustainable Development Goals. We are pleased to partner with Credit Suisse to focus attention on the importance that water conservation and the sustainable use of our oceans and waterways play in development”, said George Richardson, Director of Capital Markets, World Bank.

The World Bank issues US$50-US$60 billion in the global capital markets every year and proceeds of all its bonds support the financing of development programs that are aligned with the Sustainable Development Goals. This includes, for example, projects that are helping to: improve flood management through improved solid waste management in Philippines; preserve and grow fish stocks and related livelihoods in Peru; and improve management of marine areas and strengthen fisheries value chains in Seychelles.

Original source: World Bank
Published on 21 November 2019