Washington, D.C., February 24, 2023 - The World Bank (International Bank for Reconstruction and Development, IBRD, AAA/Aaa) today issued a USD 50 million 15-year callable Sustainable Development Bond due February 2038. The City of Chicago was the sole investor in the transaction. CIBC World Markets, Inc. acted as lead manager and Loop Capital was the distributor of the bond.
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 - from health, nutrition, and quality education to sustainable agriculture and climate action.
Jorge Familiar, Vice President and Treasurer, World Bank, said "Our focus is on sustainable, resilient, and inclusive development serving the most vulnerable populations. Investors play a key role in channeling finance where it can have lasting, positive impact. We thank the City of Chicago for its investment and support of the World Bank's mission to end poverty and promote prosperity in our member countries."
Melissa Conyears-Ervin, Treasurer, City of Chicago, said "I invested in the World Bank because not only does it provide a solid financial return, but it also promotes sustainable and inclusive economic growth in developing countries. By investing in the World Bank, we can make a positive impact on the global community while ensuring the financial security of our own city."
About the World Bank
