The World Bank and Credit Suisse have formed a partnership to focus attention on sustainable use of oceans and coastal areas, otherwise known as the Blue Economy.

The World Bank has issued a $28.6m 5-year sustainable development bond as part of ongoing efforts to raise awareness for the vital role fresh and saltwater resources play for people, livelihoods, and the planet, with Credit Suisse Securities acting as the sole manager of the transaction.

“World Bank bonds provide an opportunity for investors to engage on purpose, impact and the Sustainable Development Goals. We are pleased to partner with Credit Suisse to focus attention on the importance that water conservation and the sustainable use of our oceans and waterways play in development”, said George Richardson, director of capital markets.

The World Bank bond forms the collateral for Credit Suisse’s Low Carbon Blue Economy Note, which was placed with Credit Suisse’s private wealth management clients in Northern Europe.

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