May 30, 2022
$150m Bond to save South Africa’s black rhino and communities
World Bank issued a $150 million five-year bond to help protect and increase endangered black rhino populations and communities in two protected areas in South Africa.
Source: The World Bank
Black rhino is an umbrella species that helps shape the ecosystems on which the other species and economies depend on. Rhinos are slaughtered every single day for their horns. First-of-its-kind financial instrument – Sustainable Development Bond, also known as “Rhino Bond” that releases funds to save black rhinos and helping the communities has been issued by the World Bank. Additionally, the activities supported by the funding intend to provide over 2,300 jobs for local communities in and around the protected areas.
Source: The World Bank
Image Credit: Wikimedia Commons
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