Washington, D.C., October 11, 2022 – The World Bank (International Bank for Reconstruction and Development, IBRD, AAA/Aaa) today issued a MXN 205 million 3-year Sustainable Development Bond due October 2025 highlighting the importance of taking a holistic approach to sustainable development aligned with the Sustainable Development Goals (SDGs). Fiera Capital was the sole investor in the transaction which was purchased for its Fiera Multi-Strategy Income Fund and its Fiera Global Impact Fund. J.P. Morgan acted as lead manager.
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 – in this case, the connection between education and innovation in tackling climate change. The transaction is highlighting SDG 4, Quality Education, SDG 9, Industry, Innovation and Infrastructure, and SDG 13, Climate Action. This bond was issued under the World Bank’s Sustainable Development Bond Framework.
Heike Reichelt, Head of Investor Relations and Sustainable Finance, World Bank Treasury, said “The World Bank takes a holistic approach and integrates climate considerations in all its activities across all sectors. Investments in World Bank bonds support the achievement of the SDGs and help illustrate their interconnectedness. We thank Fiera Capital for the investment and continued collaboration with the World Bank and for highlighting how SDGs can serve as a framework for sustainable investment.”
Nicolas Vaugeois, Co-Lead & Portfolio Manager, Global Fixed Income, Fiera Capital, said “Education is at the forefront of innovation that will help communities in their energy transition while fostering a positive impact on climate action. Moreover, cultivating our collaboration with the World Bank has allowed us to embrace a long-term commitment to responsible investing.”
Alexandre Cousineau, Co-Lead & Portfolio Manager, Global Fixed Income, Fiera Capital, said “We are pleased once again to be working with the World Bank on this transaction. Our goal is to raise the awareness for quality education which we believe is a key pillar to drive sustainable innovation in order to further accelerate the global energy transition.”
About the World Bank
The World Bank (International Bank for Reconstruction and Development, IBRD), rated Aaa/AAA (Moody’s/S&P), is an international organization. Created in 1944, it is the original member of the World Bank Group and operates as a global development cooperative owned by 189 nations. The World Bank provides loans, guarantees, risk management products, and advisory services to middle-income and other creditworthy countries to support the Sustainable Development Goals and to end extreme poverty and promote shared prosperity. It also provides leadership to coordinate regional and global responses to development challenges. The World Bank has been issuing sustainable development bonds in the international capital markets for over 70 years to fund programs and activities that achieve a positive impact. More information on World Bank bonds is available at www.worldbank.org/debtsecurities.
World Bank bonds support the financing of programs that further the Sustainable Development Goals (SDGs). World Bank bonds are aligned with the Sustainability Bond Guidelines published by the International Capital Market Association and as such support the financing of a combination of green and social, i.e., “sustainable development” projects, programs and activities in IBRD member countries as described in the World Bank Sustainable Development Bond Framework. The World Bank is also a member of the Executive Committee of the Green Bond, Social Bond, and Sustainability Bond Principles. A key priority for the World Bank’s capital markets’ engagement is building strategic partnerships with investors to promote the importance of private sector financing in sustainable development. The World Bank’s Sustainable Development Bond Impact Report describes how the World Bank engages with investors on the SDGs and raises awareness for specific development challenges.
Disclaimers
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.
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 securities will take place solely on the basis of the relevant offering documentation including, but not limited to, the prospectus, term sheet and/or final terms, as applicable, prepared by the World Bank or on behalf of the World Bank, and is subject to restrictions under the laws of several countries. World Bank securities may not be offered or sold except in compliance with all such laws. The World Bank Sustainable Development Bond Framework and the information set forth therein are not a part of, or incorporated by reference into, the offering documentation.
Contact
Investor Relations and Sustainable Finance
World Bank Treasury
debtsecurities@worldbank.org
