BMO helps World Bank raise $8 billion for global pandemic response
With BMO Capital Markets acting as joint lead manager, the World Bank has issued a landmark USD $8 billion dollar, five-year sustainable development bond. It is the largest-ever U.S. dollar-denominated bond issued by a supranational organization – an international body with regulatory authority over its member states.
Capital from the bond sale will help fund the World Bank’s global coronavirus response, with a focus on:
- Strengthening healthcare systems in developing countries
- Supporting local COVID-19 communication campaigns
- Reducing the economic impact of the pandemic by protecting the poor and vulnerable, supporting local businesses and building economic resilience
Dan Barclay, CEO and Group Head, BMO Capital Markets, called global investor response “overwhelming,” and expressed BMO’s pride in contributing to the record-breaking transaction. “During this unprecedented time, it is an honour to work with the World Bank again on another influential transaction,” said Dan. “Strengthening existing health systems in developing countries is part of the World Bank’s fast track approach and is aligned with our priorities and purpose at BMO for community involvement during the COVID-19 pandemic. We are proud to be a part of this global solution.”
Read about our earlier collaborations on World Bank bonds here and here.
Read more about the relationship between COVID-19 and sustainable finance.
Learn more about sustainable finance at BMO.
