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World’s first ‘rhino’ bond to help conservation efforts

March 24, 2022435 Views

The World Bank has issued the world's first wildlife conservation 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. The five-year 'rhino bond' issued on Wednesday will pay investors returns based on the rate of growth of black rhino populations at South Africa's Addo Elephant National Park (AENP) and the Great Fish River Nature Reserve (GFRNR), the bank said. FILE PHOTO: A black rhino is seen after it was dehorned in an effort to deter the poaching of one of the world's endangered species, at a farm outside Klerksdorp, in the north west province, South Africa. REUTERS/Siphiwe Sibeko After five years, investors would get a return of between 3.7% and 9.2% if the population increase...

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Gloomy outlook for global recovery

UPENDRA SWAMI

January 11, 20221246 Views

World Bank sees sharp world growth slowdownOmicron to deter recovery prospects in 2022Tourism dependent economies to face major headwinds Only one in 10 World Economic Forum members surveyed expects the global recovery to accelerate over the next three years, a poll of nearly 1,000 business, government and academic leaders found, with only one in six optimistic about the world outlook. On Tuesday, The World Bank also cut its forecasts for economic growth in the United States, the Euro area and China and warned that high debt levels, rising income inequality and new coronavirus variants threatened the recovery in developing economies. FILE PHOTO: A helicopter flies over the ski resort during the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 23, 2020...