World Bank Launches $1.75 Billion Sustainable Development Bond

The World Bank has announced the pricing of a $1.75 billion sustainable development bond, aligning with global financial standards by linking it to the Secured Overnight Financing Rate (SOFR) Index.

This move demonstrates the World Bank's commitment to supporting sustainable projects globally, with the bond set to mature on September 23, 2032.

This financial tool is part of wider efforts to achieve sustainability targets, attracting investors keen on backing environmentally and socially responsible initiatives.

(With inputs from agencies.)