On the sidelines of the UN Ocean Conference in Lisbon, IFC, a member of the World Bank Group, together with four of the top international organizations have announced their commitment to develop guidelines that would provide the global market consistency and transparency in financing the blue economy. IFC, the International Capital Markets Association (ICMA), United Nations Global Compact, United Nations Environment Program Finance Initiative (UNEP FI), and the Asian Development Bank (ADB) are partnering to develop a global practitioner’s guide for bonds to finance the sustainable blue economy. It will aim…
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World Bank and Credit Suisse partner to focus attention on sustainable use of oceans and coastal areas – the “Blue Economy”
The World Bank (International Bank for Reconstruction and Development, IBRD rated Aaa/AAA) issued a USD 28.6 million 5-year Sustainable Development Bond as part of ongoing efforts to raise awareness for the vital role fresh and saltwater resources play for people, livelihoods, and the planet. Credit Suisse Securities (Europe) Ltd., through its Impact Advisory and Finance Department, acted as the sole manager of the transaction. World Bank bonds support the financing of sustainable development projects and programs across a range of critical development sectors in member countries. This includes projects…
Read MoreLaunch of the MSPglobal Initiative Paves the Way for a Global Sustainable Blue Economy
The Intergovernmental Oceanographic Commission (IOC) of UNESCO and the Directorate-General for Maritime Affairs and Fisheries (DG MARE) of the European Commission launched their new joint initiative MSPglobal on 11-12 February 2019 in Paris, France. Dr. Vladimir Ryabinin, Executive Secretary of IOC-UNESCO and Assistant Director-General of UNESCO, and Ambassador Rupert Schlegelmilch, Head of the European Delegation to the OECD and UNESCO, welcomed 120 participants from over 50 different countries who attended the opening. To lay the foundations for an informed exchange, the MSPglobal Initiative was presented to the audience and its…
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