World Bank plans to launch a 'drought' bond within 12-18 months, targeting Africa, to support countries affected by natural disasters.
World Bank is planning to launch its first 'drought' bond within the next 12-18 months, broadening its catastrophe bond offering that supports countries affected by natural disasters like storms and earthquakes. The new drought bond would be a type of fixed income instrument that pays out to countries in the event of a natural disaster. The World Bank aims to focus on Africa for this initiative.
July 17, 2024
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