Category: Central banks
What is the best way to mobilise the capital markets to deal with the health crisis? What is the best way to mobilise the capital markets to deal with the health crisis? What is the best way to mobilise the capital markets to deal with the health crisis?
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The International Financing Facility for Immunisation (IFFIM) issued the first Social Bond – a vaccine bond - in 2006.
It was pioneering in that, for the first time, the issuer disclosed the use of proceeds. This has become increasingly important in markets as millennials, Generation Z and institutional investors are seeking to know how their money is being used and its likely impact.
This unique issue became the template for the first Green Bond in 2007 and subsequent Social Bonds and Sustainability Bonds have seen exponential growth since.
Now with the coronavirus, the world is faced with a unique challenge, arguably the worst since Spanish flu in 1918, or more – interest rates have not been this low at the Bank of England for more than 300 years. The challenge may be considered in two parts – the public health and ec…