Standard Chartered Plc in partnership with the World Bank, has launched the world’s first sovereign blue bond for the Republic of Seychelles.
The bond raised US$15 million from international investors, which would help expand and protect marine areas, improve governance of priority fisheries and develop the Seychelles’ blue economy.
The World Bank assisted in developing the blue bond and reaching out to the three investors: Calvert Impact Capital, Nuveen, and Prudential. Standard Chartered acted as placement agent for the bond.
Speaking about the landmark placement, the Chief Executive, Corporate, Commercial and Institutional Banking at Standard Chartered, Simon Cooper, was quoted in a statement to have said: “The world’s first sovereign blue bond is a landmark transaction and one in which Standard Chartered is proud to have played a role, in partnership with the World Bank and the Republic of Seychelles.