The World Bank has issued bonds which for the first time links to the UN’s Sustainable Development Goals (SDGs).
They will be linked to the performance of 50 companies advancing global development priorities set out in the SDGs, including tackling climate change.
BNP Paribas led the issuance of the €107 million (£93.6m) 15-year bond and €57 million (£49.8m) 20-year bond, which were sold to a small group of institutional investors in France and Italy.
The World Bank will use the proceeds to support the financing of projects that advance its goals of eliminating extreme poverty and boosting sustainable infrastructure among others.
Arunma Oteh, World Bank Vice President and Treasurer said: “This bond is an innovation that demonstrates the powerful role of capital markets in connecting savings with development priorities, while offering investors an attractive risk-reward profile.”
UK Prime Minister Theresa May has said the UK will be at the forefront of delivering the SDGs.