Finance
World Bank’s Pandemic Fight to Bring New ESG Issuance Record
- IFC’s total sustainable debt sales may surpass 2017 record
- Proceeds to boost efforts to tackle Covid-19 virus globally
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International Finance Corp. is on track to sell a record amount of environmental and social bonds as part of its global response to the pandemic.
The World Bank Group’s arm for the private sector expects its sustainable bond sales this year will likely surpass the previous high of $2.3 billion it set in 2017, according to John Gandolfo, vice president and treasurer at IFC. Issuance will come in different currencies, and proceeds will to go to clients globally, including small businesses, low-income households and poor and fragile nations, he said.