The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) has issued an AU$50 million Sustainable Development Bond due July 2027 as it engages with investors on the importance of road safety.
The Bank said it was the first Sustainable Development Bond sold to a Japanese investor while raising awareness for road safety.
The World Bank supports programmes and activities in its member countries designed to achieve a positive social and environmental impact in line with the World Bank’s “twin goals” of eliminating extreme poverty and promoting shared prosperity.
These “twin goals” are aligned with the Sustainable Development Goals (SDGs).
The Bank, together with member countries, is working to introduce transportation policies and systems that increase safety and reduce road fatalities.
Improving the safety of transportation systems directly contributes to SDG 3 (Good Health and Well-Being) and SDG 11 (Sustainable Cities and Communities).
Investments that incorporate road safety also contribute to many other SDGs by saving lives, preserving human capital, and promoting economic development.
According to the Bank, road safety is an important development challenge because road crashes rank as the leading cause of death globally for children and youth aged 5-29.
The World Bank is implementing a “safe system” approach to support road safety in its member countries; it includes “strengthening countries’ capacity to design and implement effective road safety interventions and create a holistic, country-level road safety management system.”
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