World Bank Begins Issuing $660M in Sustainable Development Bonds for Water Management

The World Bank, a financial institution that provides loans to countries for capital projects, has raised more than $660 million in Sustainable Development Bonds highlighting the critical role of ocean and water resources. The bonds will be used to fund the protection of water resources in developing countries.

For the bonds, the World Bank focused on two Sustainable Development Goals: SDG 6 and SDG 14 (clean water and sanitation, and life below water, respectively).

A range of institutional and retail investors globally have supported the initiative since it was launched in August, the World Bank says. Ten bonds in five currencies have already been issued, and the World Bank will continue to issue bonds under the initiative.

Examples of ocean and water projects from the World Bank include:

• In Romania, a pollution control project is reducing the discharge of nutrients into water bodies leading to the Danube River and Black Sea. Over 100 communes have benefited from support under the first phase of the project, 11 sewerage systems and communal wastewater treatment plants were built, seedlings were planted on 182 hectares in 57 communities, and the first pilot plant was built for biogas production from manure. Over the past decade, water quality and ecosystem improvements been observed in the Danube River/Black Sea basin due to this project.