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Green bonds - by Nicholas Pfaff
In 2008, the World Bank launched its Strategic Framework for Development and Climate Change to help stimulate and
coordinate public and private sector activity in this area. In 2008, as a practical outcome of this strategy the World Bank issued a SEK2.7 billion bond thereby launching the GB market. The World Bank has subsequently continued actively to support this innovation and remains the largest issuer in the market with more than $4 billion raised as of August 2013. Other key multilateral institutions such as the European Investment Bank, the International Finance Corporation, the European Bank for Reconstruction and Development, and most recently the African Development Bank have followed suit contributing to an outstanding pool of GBs from multilaterals estimated in mid-2013 at $7.4 billion.