25 Nov 2019 - Swiss finance giant credit Suisse has partnered with The World Bank to issue a $28.6m (£22.2m) bond aimed at financing the protection and restoration of fresh and saltwater resources and habitats.
All bonds issued by the World Bank are designed to support projects that deliver progress against one or more of the UN’s Sustainable Development Goals (SDGs).
The new bond, which has a five-year maturity period, purports to touch on the majority of the 17 SDGs. Projects due to benefit from its financing include those working to establish coastal and marine protected areas; those which improve waste management in ways which reduce pollution in waterways and oceans; those which promote sustainable fisheries and aquaculture; and those working to implement strong environmental governance in coastal nations and regions.
According to Credit Suisse, this approach will deliver a number of direct and indirect benefits across people, planet and the economy – which will be particularly felt by businesses and communities connected to island or coastal locations. Elsewhere in its portfolio, it is already providing finance for sustainable seafood supply chain projects in Peru and the Seychelles.
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