The World Bank has priced a Sustainable Development Bond to raise awareness for the importance of investing in women’s empowerment in rural areas.
The bond highlights Sustainable Development Goals 1, 2 and 5 to achieve zero poverty, zero hunger, and gender equality.
Women and girls have a unique role to play as drivers of growth and progress and powerful agents of change.
Globally, women are accorded only three-quarters of the legal rights that men enjoy according to a new index recently released by the World Bank, constraining their ability to get jobs or start businesses and make economic decisions that are best for them and their families. These difficulties are compounded for rural women, who often lack access to both information and finance.
The 5-year bond was placed with investors committed to highlighting the importance of the theme, with Macquarie Investment Management as the lead investor. HSBC is the lead manager for this transaction.
The bond brings the World Bank’s total issuance of bonds that raise awareness for gender equality to US$840 million. The World Bank has also issued US$2 billion in bonds to highlight efforts that support women and children’s health.
The World Bank works with public- and private-sector partners to close gender gaps globally for lasting impact in tackling poverty and driving sustainable economic growth that benefits all.
World Bank Vice President & Treasurer Jingdong Hua said that they were pleased with the success of the transaction, which caps a weeklong to highlight the importance of investing in women to achieve the Sustainable Development Goals.
“The strong investor response reflects the growing demand for safe, liquid bonds that connect with social purpose. We appreciate the support we receive from investors as we continue to raise awareness about the importance of investing in women’s empowerment. By working together, we can ensure a better future for all,” said Jingdong Hua.
Gyula Toth, Senior PM at Macquarie Investment Management noted that supporting the deal will enable them to boost the already outstanding sustainability standards in our supranational emerging market local currency bond portfolios while at the same time maximize the impact of their investment and raise awareness for rural women’s empowerment.