World Bank sells first ‘rhinoceros’ bond to aid South Africa’s conservation efforts By Reuters

© . FILE PHOTO: A black rhinoceros is seen after being dehorned in an effort to deter poaching of one of the world’s endangered species, on a farm outside Klerksdorp, South Africa’s northwestern province, February 24, 2016. Sibeko JOHANNESBURG () – The World Bank has issued the world’s first conservation bond, raising $150 million to help increase South Africa’s endangered black rhino population, the bank said in a statement on Thursday. The five-year “rhinoceros bond” issued Wednesday will provide investors with a return based on the growth rate of black rhino populations in South Africa’s Addo Elephant National Park (AENP) and the Great Fish River Nature Reserve (GFRNR), it said. the couch. Investors would see returns of between 3.7% and 9.2% after five years as the population increases. They wouldn’t get any returns if there wasn’t a change in the black rhino population, it added. Black rhinoceroses are two-horned species of the endangered rhinoceros family and are found only in Africa. According to Save The Rhino International, a London-based nonprofit, their population dropped 96% to below 2,500 between the 1970s and 1990s due to poaching to meet the demand for their horns in China and the Middle East. . Later, large-scale conservation efforts were undertaken, leading to their increase to between 5,000 and 5,500, according to the Save The Rhino website. South Africa accounts for about half of the continent’s total black rhino population, says the World Wildlife Fund (WWF), a global non-governmental organization. “The financial structure that pays for success protects an endangered species and bolsters conservation efforts in South Africa by leveraging the World Bank’s infrastructure and track record in capital markets,” said David Malpass, World Bank Group chairman. Disclaimer: Fusion Media would like to remind you that the data on this website is not necessarily real-time or accurate. All CFDs (Stocks, Indices, Futures) and Forex prices are not provided by exchanges but rather by market makers, and therefore prices may not be accurate and may differ from the actual market price meaning prices are indicative and not suitable for trading purposes . Therefore, Fusion Media does not bear any responsibility for any trading losses that you may incur as a result of using this data. Fusion Media or anyone associated with Fusion Media accepts no liability for any loss or damage resulting from reliance on any information, including data, quotes, charts and buy/sell signals on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment possible.

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