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The World Bank today announced a partnership with SEB and several key Scandinavian institutional investors to introduce a "World Bank green bond" to raise funds for projects seeking to mitigate climate change or help affected people adapt to it.
The bond issue is one example of the kind of innovation the World Bank is trying to encourage within its "Strategic Framework for Development and Climate Change," launched earlier this year to help stimulate and coordinate public- and private-sector activity in this area. The offering is the first time both the World Bank and SEB have offered bonds to raise funds identified to a specific World Bank program.
"We are very pleased to partner with the World Bank for this green bond issue," said Annika Falkengren, President and CEO, SEB. "With this issue we have been able to offer our clients a …