World Bank applauds rising financial investments in blue economy sector | Daily News

World Bank applauds rising financial investments in blue economy sector

The World Bank has applauded the rising investment portfolio in the blue economy sector, which comprises investments in reducing the pollution at sea and ensuring that millions of people around the world have access to clean water, its executives said on Tuesday.

In a statement issued at the Sustainable Blue Economy Conference underway in Nairobi, the lender said it had raised 66 billion shillings ($660 million) in sustainable bonds, which highlight the critical role of the oceans and water resources play in international development.

The Bank has committed $37 billion in water resources and other ocean-related portfolio of more than $4 billion, which include funds invested in a project in the Philippines and Indonesia, aiming to reduce the marine pollution, according to Bank executives.

“We are delighted with the diverse range of investors that have purchased our bond series and appreciate the commitment of all stakeholders to new approaches to ensuring better stewardship of our fresh water and ocean resources,” said Arunma Oteh, World Bank’s Vice-President and Treasurer.

(chinadaily.com.cn)


 

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