In its latest effort to bring in private finance to fund global development initiatives, the World Bank issued $47-million-equivalent Sustainable Development Bonds to raise money for initiatives to empower women, girls and adolescents.
This was part of an initiative that the Bank is launching to engage private investors on the importance of investing in the health and nutrition of women, girls and adolescents across the world.
The initiative was announced in the wake of the Group of Seven (G7) Summit in Canada.
“When women, children and adolescents survive and are healthy, countries do better and can invest more in their priorities and in their people,” said Kristalina Georgieva, CEO of the World Bank. .”
“We are raising awareness with investors and other financial market participants on why
investing in girls and women is smart economics. It is a part of our Sustainable Development Bonds, which offer investors a clear opportunity to put their money to work to help countries reach their development goals,” Georgieva said.
Estimates by the Bank say that saving lives of and improving the well-being and productivity of women, children and adolescents across the world would need an investment of about $33 billion each year.
The World Bank has invested 40 billion dollars across over 600 projects, making it the single largest investor in social sectors worldwide.