CURRENT AFFAIRS

Detailed explanation-1: -“The Rhino Bond is a groundbreaking approach to enabling private sector investment in global public goods - in this case biodiversity conservation, a key global development challenge,” said World Bank Group President David Malpass.

Detailed explanation-2: -The World Bank has announced that it has launched the world’s first wildlife conservation bond (WCB), generating 150 million dollars to boost initiatives to raise the endangered black rhino species in South Africa.

Detailed explanation-3: -Also known as the “Rhino Bond,” the WCB is a five-year USD 150m sustainable development bond which will contribute to protecting and increasing black rhino populations in two protected areas in South Africa: the Addo Elephant National Park and the Great Fish River Nature Reserve.

Detailed explanation-4: -The World Bank has issued the world’s first Wildlife Conservation Bond (WCB) or the “rhino bond”, raising $150 million to help efforts to increase the endangered black rhino population in South Africa, the bank said in a statement on Thursday.

Detailed explanation-5: -The World Bank has issued the world’s first wildlife bond, the money from which will be used to resuscitate the population of rhinoceros in South Africa.