The World Bank announced this Monday the issuance of two Sustainable Development Bonds purchased by Bank Al-Maghrib (Morocco’s Central Bank) for its reserves management.
The € 100 million 3-year and € 100 million 5-year Sustainable Development Bond transactions will support the financing of the World Bank’s sustainable development activities and pay annual fixed rate coupons to Bank Al-Maghrib. The bonds mature on October 6, 2026, and October 6, 2028.
The World Bank issues Sustainable Development Bonds in the international capital markets to support the financing of sustainable development activities designed to achieve positive social and environmental impacts in developing countries, while raising awareness of specific development themes across a range of sectors.
These bonds were issued under the World Bank’s Sustainable Development Bond Framework. The World Bank integrates climate action into its development financing efforts including resilient food systems, clean and renewable energy, and environmental and water security throughout its global portfolio, including African countries.
The announcement of these bonds coincides with the start of the WB-IMF Annual Meetings in Marrakech, focusing on driving action for more sustainable outcomes for people and the planet.
The World Bank has partnered with Morocco in Noor Solar plant, Africa’s largest solar plant; the rehabilitation of the Fez Medina, the World Bank’s first cultural heritage program; the National Human Development Initiative; Morocco’s first green bond; its first private equity fund, and much more.