First wildlife bond issued by World Bank to save Africa’s black rhino

The World Bank (International Bank for Reconstruction and Development, IBRD) has issued the Wildlife Conservation Bond (WCB) to support of South Africa’s efforts to conserve endangered species of Black Rhino. Wildlife Conservation Bond (WCB) is also known as “Rhino Bond”. It is a five-year $150 million Sustainable Development Bond. It includes a potential performance payment from the Global Environment Facility (GEF).

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The bond will contribute to protecting and increasing black rhino populations in two protected areas in South Africa namely the Addo Elephant National Park (AENP) and the Great Fish River Nature Reserve (GFRNR).

Important takeaways for all competitive exams:

• World Bank Headquarters: Washington, D.C., United States.
• World Bank Formation: July 1944.
• World Bank President: David Malpass.

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