WASHINGTON, DC, June 21, 2022 – The International Development Association (IDA, Aaa/AAA) today issued a Norwegian krone 5-year benchmark bond that raised NOK 2 billion. The bond matures on June 21, 2027. DNB Bank acted as lead manager for the transaction.
IDA bond proceeds support the financing of projects and programs in eligible IDA countries as they advance the Sustainable Development Goals, including those which are helping support member countries as they respond to the human and economic impacts of overlapping crises including climate change, COVID-19 and conflict, and critical challenges such as food insecurity, slowing global growth, high energy and commodity prices, and trade disruptions.
International Development Association (IDA)
June 21, 2022
June 21, 2027
3.25% p.a., paid annually in arrear
Luxembourg Stock Exchange
This press release does not constitute or form part of and should not be construed as an offer for sale or issue or the solicitation of an offer to buy or acquire the securities described in any jurisdiction or an inducement to enter into investment activity. No part of this press release, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. The offering and sale of the securities described in this document are subject to restrictions under the laws of several jurisdictions. Securities may not be offered or sold except in compliance with all such laws. The IDA Sustainable Development Bond Framework and the information set forth therein are not a part of, or incorporated by reference into, the offering documentation.
Net proceeds of the securities described herein are not committed or earmarked for lending to, or financing of, any particular projects or programs, and returns on the securities described herein are not linked to the performance of any particular project or program.
The International Development Association (IDA), rated Aaa/P-1 and AAA/A-1+ (Moody’s/S&P), is one of the largest sources of funding for fighting extreme poverty in the world’s poorest countries. Since its establishment in 1960, IDA has provided about USD 400 billion for investments in over 100 countries. As an institution of the World Bank Group, IDA combines global expertise with an exclusive focus on reducing poverty and boosting prosperity. Proceeds of IDA bonds support the financing of a combination of green and social, i.e., “sustainable development” projects, programs and activities in IDA member countries as described in the IDA Sustainable Development Bond Framework. IDA Bonds are aligned with the Sustainability Bond Guidelines published by the International Capital Market Association. Information on IDA bonds is available at http://www.worldbank.org/en/about/unit/treasury/ida.
Heike Reichelt, Head of Investor Relations and Sustainable Finance, World Bank Treasury,
+1 202 477 2880