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World Bank launches sustainable development bond for ocean resources

The World Bank announced in November its first Sustainable Development Bond in Norwegian krona to raise awareness for water and ocean resources. The NOK 2.5 billion 1.75% bond matures on 6 November 2024. Nordea Bank Abp was the sole underwriter and distributor for the transaction.

World Bank to boost offshore wind in developing countries

The World Bank Group announced a new program to advance the adoption of offshore wind energy in developing countries. The World Bank and IFC will help these markets evaluate their offshore wind potential and provide technical assistance to develop a growing pipeline of projects that are ready for investment by renewable energy developers.

Climate change risks in focus at World Economic Forum meeting

The 49th World Economic Forum Annual Meeting closed Friday, marking further steps to addressing the complex challenges brought about by the Fourth Industrial Revolution. Among the key outcomes was that climate change risks wipe out one-quarter of global GDP and inflict immeasurable suffering.

World Bank: 2019’s global economic growth to remain flat

According to the World Bank, the January 2019 edition ‘Darkening Skies’ focuses on the economic growth that has weakened, the trade tensions remain high, several developing economies have experienced financial stress, and risks to the outlook have increased. As the report stresses, emerging market and developing economies, EMDEs, face great challenges but are expected to remain flat in 2019.

Seychelles issues world’s first sovereign blue bond

The Republic of Seychelles has launched the world’s first sovereign blue bond, according The World Bank. The bond, which raised US$15 million from international investors, is a pioneering financial instrument designed to support sustainable marine and fisheries projects, demonstrating the potential for countries to harness capital markets for financing the sustainable use of marine resources.

India jumps 23 ranks in port development, World Bank report says

According to the World Bank report 2019 on Ease of Doing Business, India has jumped 23 ranks from 100 in 2017-18 to 77 in 2018-19. This indicates that the country is continuing its shift towards global standards. The report mentions that this improvement is mainly because of India’s reform agenda.

New global fund focused on healthy oceans

In line with its commitment on green financing, the World Bank Group announced in late September the creation of PROBLUE, a new multi-donor trust fund intended to support healthy and productive oceans by tackling marine pollution, managing fisheries and fostering sustainable growth of coastal economies.

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