Name the financial institution which has launched green bond fund for central banks to promote green finance.

2023

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Name the financial institution which has launched ‘green’ bond fund for central banks to promote green finance.

A	Bank for International Settlements
B	World Bank
C	International Monetary Fund
D	Asian Development Bank

Explanation:

Detailed explanation-1: -In the latest dimension of global central bank’s interest in environmental sustainability, the Bank for International Settlements (BIS) has launched a dollar green bond fund enabling central banks around the world to invest in “green bonds".

Detailed explanation-2: -The Bank for International Settlements (BIS) has launched a green bond fund that is dedicated to aid the financing of green projects in Asia Pacific.

Detailed explanation-3: -In 2008, the World Bank issued its first green bond in response to such increasing demand. Since the issuance of the first green bond, the market’s grown considerably, as shown below.

Detailed explanation-4: -Finance Minister Nirmala Sitharaman announced the plan to issue sovereign green bonds in the 2022-23 budget as Asia’s third-largest economy attempts to tap the domestic debt market to finance green infrastructure projects.

Detailed explanation-5: -The World Bank Green Bonds is an example of the kind of innovation the World Bank is trying to encourage within this framework. The World Bank Green Bond raises funds from fixed income investors to support World Bank lending for eligible projects that seek to mitigate climate change or help affected people adapt to it.

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