World Bank’s International Development
Association (IDA) on Tuesday in Washington DC, launched a 1.5 billion-dollar
bond, the first in its nearly 60-year history.
Association (IDA) on Tuesday in Washington DC, launched a 1.5 billion-dollar
bond, the first in its nearly 60-year history.
The World Bank Group President, Mr Jim Yong Kim,
said the launch of IDA’s borrowing programme in the global capital markets,
would address some of its most pressing development issues.
said the launch of IDA’s borrowing programme in the global capital markets,
would address some of its most pressing development issues.
Investors around the globe seized the opportunity
to invest in the bond.
to invest in the bond.
“Today’s bond issue will allow IDA to tap into
the power of capital markets to tackle some of the world’s biggest challenges
and help millions lift themselves out of poverty.
the power of capital markets to tackle some of the world’s biggest challenges
and help millions lift themselves out of poverty.
“While it is a new bond issuer, IDA is an
established institution, with an almost 60-year track record as the leading
source of development finance and expertise for some of the fastest growing
economies in the world.
established institution, with an almost 60-year track record as the leading
source of development finance and expertise for some of the fastest growing
economies in the world.
“As a borrower, it leverages its unrivalled
capital position as the largest equity of any multilateral development bank
with decades of strong donor support, a solid track record of repayments and
prudent financial management,” he said.
capital position as the largest equity of any multilateral development bank
with decades of strong donor support, a solid track record of repayments and
prudent financial management,” he said.
Also, the World Bank Group’s Chief Financial
Officer, Mr Joaquim Levy said the bond issuance would open new investment
opportunities globally.
Officer, Mr Joaquim Levy said the bond issuance would open new investment
opportunities globally.
“By leveraging the balance sheet and the
significant achievements of IDA for the first time, we are delivering
shareholders value for money, opening new investment opportunities in the fixed
income space.
significant achievements of IDA for the first time, we are delivering
shareholders value for money, opening new investment opportunities in the fixed
income space.
“Most importantly, scaling up IDA’s ability to
have an impact where it makes the greatest difference,” he said.
have an impact where it makes the greatest difference,” he said.
Similarly, World Bank’s Vice President, Nigeria’s
Ms Arunma Oteh, said the bank would continue to develop the capital market.
Ms Arunma Oteh, said the bank would continue to develop the capital market.
“IDA received a resounding response from the
market for its debut issuance.
market for its debut issuance.
” Investors globally seized the unique
opportunity to be the first to invest in IDA’s triple-A rated bond and make a
positive impact in the lives of hundreds of millions of people around the
globe.
opportunity to be the first to invest in IDA’s triple-A rated bond and make a
positive impact in the lives of hundreds of millions of people around the
globe.
” I want to thank investors, lead managers and
all the bankers for their personal engagement and commitment to making IDA
debut such a fantastic success.
all the bankers for their personal engagement and commitment to making IDA
debut such a fantastic success.
“As we grow IDA’s borrowing programme, we will
continue to ensure a strong financial condition and prudent financial and
operational management for IDA,” she said.
continue to ensure a strong financial condition and prudent financial and
operational management for IDA,” she said.
