World Bank’s new outcome bond supports clean cooking initiative

The World Bank (International Bank for Reconstruction and Development, IBRD) has priced its latest outcome bond, a US$200 million Clean Cooking Outcome Bond maturing on 31 March, 2032. The bond aims to make cleaner cooking accessible to more than one million people in Ghana. Under the terms of the bond, an amount equivalent to some of the coupon payable to investors will be frontloaded and paid instead to support projects distributing over 400,000 cleaner cookstoves in Ghana. The bond coupon inc