World Bank Bond Expands Support to COVID-19 Resilience Through UN Children’s Fund

Washington, DC, March 4, 2021-The World Bank (International Bank for Reconstruction and Development or IBRD) has issued a US$100 million 5-year bond which both supports IBRD’s ongoing sustainable development and COVID-19 activities and adds a new feature to support similar efforts by the United Nations Children’s Fund (UNICEF). As countries confront the economic challenges of the pandemic, which has affected millions of children worldwide, the issuance will channel an amount equivalent to half of the total proceeds, US$50 million, to UNICEF. This frontloading of financing to UNICEF will support its pandemic response programs for children around the world over the 5-year period.

“This World Bank bond serves as an example of how the private sector can share financial risks to achieve positive development impact,” said David Malpass, World Bank Group President. He added, “We are grateful to our investors for joining this effort and demonstrating how investors can participate in the global response to COVID-19, through this unique opportunity to scale up resources available to UNICEF to expand its programs. The bond also spotlights impact investor support for World Bank Sustainable Development Bonds and the potential for finding new ways to collaborate for impact.”

“The COVID-19 pandemic has exacerbated deep inequalities within and across countries worldwide,” said Henrietta Fore, UNICEF Executive Director. “Keeping children at the heart of recovery efforts and focusing on innovative partnerships will enable us to reimagine children’s futures and secure more equitable societies.”

“Making real headway in alleviating social challenges requires new ways of doing things. We’re excited to innovate in the financial space and our institutional and private clients have shown overwhelming support for investments that can further their social missions,” said Jim O’Donnell, Head of Citi Global Wealth.

Summary Terms and Conditions

Note

CAR 129

Issuer

International Bank for Reconstruction and Development (“IBRD”)

Size (Aggregate Nominal Amount)

US$100 million

Trade Date

February 25, 2021

Settlement Date

March 4, 2021

Scheduled Maturity Date

March 4, 2026

Issue Price

100%

Bond Coupon

1.291% paid semi-annually from and including September 4, 2021 up to and including the Maturity Date

IBRD Portion

Amount equal to 50% of the Aggregate Nominal Amount

UNICEF Portion

Amount equal to 50% of the Aggregate Nominal Amount

Receipt Condition

IBRD’s obligations to pay any amounts in respect to UNICEF is conditional upon IBRD having received equivalent amounts from UNICEF.

Payment Condition

Each payment obligation of UNICEF will be conditioned on and limited to the amount of the UNICEF Donation from private individuals in 18 target countries. If the condition precedent is not satisfied in respect of any payment, UNICEF’s payment obligation will be reduced by such amount necessary for the condition precedent to be satisfied in respect of the relevant payment.

ISIN

US45906M2M29

Registrar and Transfer Agent

Citibank, N.A., London Branch

Disclaimers:

This press release is not an offer for sale of securities of the International Bank for Reconstruction and Development (“IBRD”), also known in the capital markets as “World Bank”. Any offering of World Bank bonds described herein will take place solely on the basis of the relevant offering documentation including, but not limited to, the Prospectus, the Prospectus Supplement, the Final Terms and any related legal documentation. Investing in the bonds described herein is speculative and involves a high degree of risk including the risk of a total loss of principal amount of the applicable Class. The bonds will be offered and sold, and may be reoffered and sold, only to investors who (i) are “qualified institutional buyers” within the meaning of Rule 144A under the United States Securities Act of 1933, as amended, and (ii) are residents of and purchasing in, and will hold the bonds in, a permitted U.S. jurisdiction or a permitted non-U.S. jurisdiction (and meet the other requirements set forth under “Notice to Investors” in the Prospectus Supplement). The bonds will not be transferable except in accordance with the restrictions described under “Notice to Investors” in the Prospectus Supplement.

Net proceeds of the bonds described herein are not committed or earmarked for lending to, or financing of, any particular projects or programs, and returns on the bonds described herein are not linked to the performance of any particular project or program.

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