The World Bank has launched a NOK2.5 billion (£0.2bn) sustainable development bond to raise awareness for water and ocean resources.

It is the organisation’s first sustainable bond in Norwegian krona, with the biggest proportion of investor interest coming from bank treasuries (70%), followed by pension funds (13%), private banks (8%) and asset managers (5%).

In terms of geographical distribution, 88% was placed with accounts in Nordic countries, with the remainder coming from Switzerland and other European investors.

The World Bank has issued almost $3 billion (£2.3bn) equivalent through more than 30 sustainable development bonds to raise awareness for clean water, sanitation and marine protection, including preventing pollution from reaching oceans through better waste management.

Heike Reichelt, Head of Investor Relations and New Products, World Bank Treasury said: “This transaction is part of the World Bank’s initiative to raise awareness for the critical role of water and ocean resources. It shows that there’s growing interest from investors to engage on specific sustainable development goals and that they value the World Bank as an opportunity to invest for impact.”