Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Find Out

PRESS RELEASE June 18, 2008

World Bank Partners with Westpac for Sustainable Investing

Wellington, June 18, 2008 – The World Bank has teamed up with Westpac to design an investment product for retail and other investors in New Zealand interested in a triple-A rated sustainable investment product.

Rod Smith, the Head of Debt Capital Markets for Westpac Institutional Bank, says this unique investment will appeal to socially responsible institutional and retail investors and said: “The notes offer financial and social returns, providing a good return from an AAA/Aaa issuer plus the chance to make a difference in developing countries by investing in the World Bank’s funding program.”

The 4-year bonds will be denominated in New Zealand Dollars. They will be issued on July 16, 2008 and mature on July 16, 2012. The offering period starts on June 23, 2008 and ends on July 11, 2008. The issuer is the International Bank for Reconstruction and Development (“IBRD”), part of the World Bank Group. Interest on the notes will be paid semi-annually in arrears on 16 January and 16 July each year until maturity. The fixed rate coupon will be set on 14 July 2008.

Doris Herrera-Pol, Global Head of Capital Markets for the World Bank, who recently visited New Zealand says: "We are very pleased to be offering this sustainable investment opportunity through Westpac which has an outstanding reputation in corporate and social responsibility. This offering gives New Zealanders the chance to invest their money with the world's largest development organization. They can earn both a financial and social return by supporting the World Bank's financing in a wide variety of social and ethically responsible sectors, such as environment, health and education."

This offering is part of the World Bank's strategy to provide customized, regionally focused investment products that combine financial and social returns.

The World Bank is a global development cooperative owned by its member countries, including New Zealand. Its purpose is to help its members achieve equitable and sustainable economic growth in their national economies and find effective solutions to pressing regional and global problems in economic development and environmental sustainability. The goal is to help overcome poverty and improve standards of living for people worldwide. The International Bank for Reconstruction and Development (IBRD), rated Aaa/AAA, is the oldest and largest entity in the World Bank Group and is owned by 185 member countries. IBRD provides funding, risk management tools and credit enhancement to sovereigns. To fund this activity, IBRD has been issuing debt securities in the international capital markets for 60 years.

“Sustainable” or “socially responsible investing” (SI or SRI) or “ethical investing” describes an investing approach that is becoming increasingly popular, especially among retail investors. It integrates social and environmental concerns into investment decisions.

For more information on the World Bank and World Bank debt securities, please visit http://www.worldbank.org/debtsecurities.

This press release is not an offer for sale of Notes of the International Bank for Reconstruction and Development ("IBRD"), also known in the capital markets as “World Bank”. Any offering of the Notes will be made only by means of an investment statement containing detailed information that will made available through Westpac, the Lead Manager of the notes, and is subject to restrictions under the laws of several countries. Securities may not be offered or sold except in compliance with all such laws. The World Bank makes no representation, warranty or assurance of any kind, express or implied, as to the accuracy or completeness of the information provided by Westpac.