CURRENT AFFAIRS

Detailed explanation-1: -Mexico has become the first country in the world to issue a sovereign bond linked to the sustainable development goals set by the United Nations. It has raised EUR 750 million ($890 million) by such bonds.

Detailed explanation-2: -The first sovereign green bonds were issued by Poland and France as recently as early 2017. At end-2019, the share of sovereign issuers in total outstanding GSS bonds was only 4.2 per cent, but it increased to 7.5 per cent by end-June 2022.

Detailed explanation-3: -The Seychelles, an archipelago in the Indian ocean, was the first country to issue blue bonds. An issuance of 10-year bonds was made in 2018, raising 15 million dollars.

Detailed explanation-4: -The Republic of Seychelles launched the world’s first sovereign blue bond to support its sustainable marine and fisheries projects. The bond, structured in collaboration with The World Bank, demonstrates the potential for countries to harness capital markets for financing the sustainable use of marine resources.

Detailed explanation-5: -The Blue Bonds in Belize is basically a pilot initiative that supports a plan to provide countries across the Caribbean, Africa, Latin America, and the Asia-Pacific regions with a debt restructuring option to help ensure the protection of more of the world’s oceans.