By Mary-Katherine Stinson
Lexington, Ky., Dec. 20 – International Bank for Reconstruction and Development, known as the World Bank, sold a GEL 31 million (Georgian lari) two-year sustainable development bond to sole investor Record plc, according to a Monday press release from the investor.
The arranger was Bank of America-Merrill Lynch.
The Georgian lari was sourced from the TCX fund.
Proceeds will be used for sustainable development goals including its “safe system” which raises awareness of road safety and the introduces transportation policies and systems that increase road safety and reduce fatalities in member countries.
The global development financing cooperative is based in Washington, D.C.
| Issuer: | International Bank for Reconstruction and Development (World Bank)
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| Amount: | GEL 31 million
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| Tenor: | Two years
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| Arranger: | Bank of America-Merrill Lynch
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| Description: | Sustainable development bond
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| Investor: | Record plc
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| Announcement Date: | Dec. 20
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| Listing: | London Stock Exchange
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