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World Bank Catastrophe Bond Provides Jamaica $185 Million in Storm Protection

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Washington – The World Bank (International Bank for Reconstruction and Development, or IBRD) priced a catastrophe bond that will provide the Government of Jamaica with financial protection of up to US $185 million against losses from named storms for three Atlantic tropical cyclone seasons ending in December 2023.
The government of Jamaica is the first government in the Caribbean region, and the first of any small island state, to independently sponsor a catastrophe bond, also known as a cat bond. Jamaica was one of the sixteen countries in the Caribbean Catastrophe Risk Insurance Facility that benefitted from IBRD’s first ever cat bond in 2014. ....

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World Bank catastrophe bond provides Jamaica $185 million in storm protection - Jamaica

World Bank catastrophe bond provides Jamaica $185 million in storm protection - Jamaica
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World Bank Issues Sustainable Development Bond in Chinese Yuan and Raises Awareness for Food Loss and Waste

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WASHINGTON: The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) issued a 2-year Sustainable Development Bond raising CNH 500 million (approximately US$ 77 million equivalent) while engaging with investors to raise awareness for the importance of combatting food loss and waste. These challenges are outlined by Sustainable Development Goal 12.3: halving food waste by 2030. The bond was placed with investors committed to highlighting the importance of this theme, with Gavekal Capital Limited as the lead investor. HSBC Bank plc acted as sole lead manager for the transaction.
Jingdong Hua, Vice President and Treasurer, World Bank, said, “Supporting countries to address the climate and social impacts of food loss and waste is a key priority for the World Bank particularly as the COVID pandemic has exposed both supply chain vulnerabilities and may add up to 130 million undernourished people in the world. We thank investors who participate ....

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World Bank catastrophe bond provides Jamaica US$185 million in storm protection

Caribbean News Global
July 20, 2021
WASHINGTON, USA – The World Bank (International Bank for Reconstruction and Development, or IBRD) priced a catastrophe bond that will provide the government of Jamaica with financial protection of up to US $185 million against losses from named storms for three Atlantic tropical cyclone seasons ending in December 2023.
Jingdong Hua, vice president and treasurer, World Bank, said,
“We are pleased to be able to support this transaction and bring together so many different partners all committed to strengthening Jamaica’s resilience to tropical cyclones. We especially thank the capital market investors for their support and participating in this important mission.” ....

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World Bank catastrophe bond provides Jamaica $185m in storm protection

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