WARSAW/LONDON (Reuters) – The European Bank for Reconstruction and Development (EBRD) stated on Tuesday it has issued its first“health bond”, elevating 317 million zlotys ($92.84 million) from considered one of Japan’s largest life insurers to finance well being tasks throughout the globe.
The EBRD stated the only investor within the bond was Dai-ichi Life. The 10-year bond had a coupon of three.01 % and could be listed on the regulated market of the Luxembourg Stock Exchange, EBRD added.
“Our inaugural health bond (…) will support the EBRD’s key projects that seek to improve access to, and quality of, health services and pharmaceutical products in the economies where we invest,” stated EBRD Deputy Treasurer Isabelle Laurent.
Other multilateral organizations have additionally prior to now offered bonds to fund well being initiatives. The World Bank final 12 months launched a“pandemic bond” aimed toward funding an emergency facility.
The International Finance Facility for Immunisation has additionally offered bonds to lift cash for vaccine programmers.
Reporting by Marcin Goettig and Sujata Rao; modifying by David Stamp