Impact Report

2019
IMPACT REPORT
INVESTOR RELATIONS
Capital Markets Department
The World Bank Treasury
1818 H St NW
Washington, DC 20433
USA
E debtsecurities@worldbank.org
T +1 (202) 477-2880
W treasury.worldbank.org/capitalmarkets
World Bank Bonds for Sustainable Development: 2019 Impact Report

Cover photos (from left to right): © Marco Antonio Teixeira, Chhor Sokunthea, Curt Carnemark, Arne Hoel/ World Bank
May 2020
ACKNOWLEDGEMENTS
The report benefitted from consultation with technical experts in World Bank Global Practices and thematic areas
including Geeta Sethi and Simmy Jain in Agriculture; Monique Vledder, Sneha Kanneganti, Maria Gracheva, Meera
Shekar, Kyoko Okamura, and Alethea Dopart in Health, Nutrition and Population; Karin Kemper, Xavier Vincent, Delphine
Arri, Charlotte de Fontaubert, Sue Pleming and Morgan Graham in Environment, Natural Resources, and Blue Economy;
Sameh Wahba, Roland White, Marc Forni, Kristyn Shrader-King, and Yousra Abdelrahman in Urban Development; and
Jennifer Sara, Chloe Oliver Viola, and Meriem Gray in Water, and Genevieve Connors, Adeel Abbas Syed, Samuel
Fargher, and Janak Shrestha in Climate Change and Caren Grown, Andrea Kucey, Malcolm Ehrenpreis, and Farida
Aboulmagd in Gender. The team also received support from and wish to thank the following task team leaders for
providing additional insight on projects: Paul Baringanire, Massimiliano Cali, Debabrata Chattopadhyay, Ibrahim Saeed
Chowdhury, Simon Davies, John Gabriel Goddard, Surbhi Goyal, Demet Kaya, Ashish Khanna, Martha Lawrence, and
Eduardo Olaberria. Finally, we would like to thank the World Bank’s Office of the Managing Director and Chief Financial
Officer and Finance Partners for guidance and support in finalizing the report, particularly Samuel Maimbo, Serene
Jweied, and Otilia Ciotau.
The report was designed by Jonelle Karinne Agurs.

Table of Contents
Table of Contents
ABOUT THE REPORT | 5
INTRODUCTION About the World Bank | 5
Foreword | 6
Foreword | 8
Message from World Bank Treasurer | 7
About the WorldMessage
Bank | 8 from World Bank Treasurer | 9
Introduction
World Bank’s Response | 10
to COVID-19 | 11
OVERVIEW Impact Highlights | 12
The World Bank’s Approach: Engaging with Investors on the SDGs | 12
Report Summary | 14
World Bank Bond Timeline FY18 and FY19 | 14
Featured
Issuance and Lending Projects
Summary for| FY19
20 | 16
Annex and
Portfolio Commitments 1: World Bank Sustainable
Disbursements | 18 Development Bond Process | 55
Annex 2: Impact Reporting Approach | 56
IMPACT HIGHLIGHTS
Looking Back: Achieved Impact Highlights | 22
Annex 3: World Bank Project Cycle | 57
Looking Forward: Projected Impact Highlights | 24
Annex
Featured Projects | 26 4: World Bank Exclusion List | 58
FRAMEWORK Annex 5: List of Abbreviations | 59
Sustainable Development Bond Process | 30
Determining Project Eligibility | 31
Assessing and Mitigating Environmental and Social Risks | 32
World Bank Exclusion List | 33
PROJECT-BY-PROJECT REPORTING | 35
ANNEX
Annex 1: Impact Reporting Approach | 71
Annex 2: World Bank Project Cycle | 72
Annex 3: Accountability Mechanisms | 73
Annex 4: World Bank Sustainability Reporting Resources | 74
LIST OF ABBREVIATIONS | 75
DISCLAIMER | 75
Photo credit: © Stephan Gladieu / World Bank
4
WORLD BANK BONDS FOR SUSTAINABLE DEVELOPMENT | IMPACT REPORT 2019 5
About the Report

This World Bank Sustainable Development Bond Impact Report is the first impact report
covering all World Bank (International Bank for Reconstruction and Development, IBRD) bond
issuance and the entire portfolio of IBRD’s development activities.
The report is intended primarily for World Page 18 describes the stock of the entire existing
Bank bond investors and other capital market lending portfolio, including funds that IBRD has
stakeholders to explain how all World Bank bond committed and disbursed for projects active
proceeds support sustainable development and during FY19, organized by sector and region.
the Sustainable Development Goals (SDGs).
The report provides an overview of the World The IMPACT HIGHLIGHTS section looks both
Bank’s issuance as well as detailed information back at what was achieved and to the future,
on operational processes and safeguards and using the SDGs as a framework to illustrate
alignment with market frameworks. We used results. It presents a set of aggregated actual
the World Bank Green Bond Impact Report1, results for projects completed in FY19 (pp. 19-
which we have been publishing since 2015, as a 20) and shows aggregated expected results for
model for this report. We solicited feedback from the active IBRD portfolio of projects approved
investors, underwriters, capital market service starting in FY18 when we introduced IBRD’s
providers, thought leaders, in addition to input expanded use of proceeds language (pp. 22-23)
from our own technical and financial experts and more systematically engaged with investors
and management on an early draft of the impact on the SDGs. We also featured several projects,
report. The feedback helped us provide greater highlighting SDGs that they support.
clarity on our reporting approach and prompted The FRAMEWORK section includes elements
us to include more forward-looking information. of the World Bank’s operational policies and
It also provided important recommendations that processes that we thought were most relevant
will help to improve the report as it will continue for bond investors for assessing sustainable
to evolve over time. bonds.
The INTRODUCTION includes a foreword from The PROJECT-BY-PROJECT information,
our Managing Director and Chief Financial organized by sector, shows all projects in the
Officer, Anshula Kant, as well as a message from World Bank’s portfolio that were active during
World Bank Treasurer, Jingdong Hua. It also FY19, with select expected results and project
includes an overview of the World Bank Group identification numbers to easily access more
strategy and goals for context, and information detailed project documentation on the World
about how the World Bank is supporting member Bank’s project portal.
countries in their response to COVID-19.
The ANNEX has additional supporting
In the OVERVIEW, we share how the World information that may be of interest to investors,
Bank engages investors on the SDGs including a list of various World Bank reports
while issuing green bonds and sustainable that may be helpful resources when assessing
development bonds, highlighting SDGs and sustainability.
themes that investors were most interested in
during the reporting period, and providing a The preparation of the report was managed
timeline with transaction examples for FY18 and by Colleen Keenan, with key input from Atiyah
FY19. We also provide an issuance and lending Curmally, Scott Cantor, and other colleagues
summary, starting on page 16, where you will from the World Bank Treasury’s capital markets
find information about the volume of IBRD department, support from Zoe Russo for project
bonds issued in FY19 and new commitments data collection and analysis, and guidance from
made during FY19 to support lending in member Heike Reichelt.
countries. Notes:
/1 http://pubdocs.worldbank.org/en/790081576615720375/IBRD-Green-Bond-
Impact-Report-FY-2019.pdf
6 WORLD BANK BONDS FOR SUSTAINABLE DEVELOPMENT | IMPACT REPORT 2019
Foreword
T
he World Bank plays a fundamental role in convening
and supporting middle-income developing
countries – through IBRD – to make a difference
in the lives and livelihoods of hundreds of millions of
people around the world. The strength of the World Bank
is demonstrated by the breadth and the depth of our
portfolio, which is reflected in this inaugural Sustainable
Development Bond impact report for investors.
Together with our country partners, we work to create
jobs, develop human capital, promote and protect
global public goods, drive environmental sustainability,
facilitate access to finance, and build social safety nets.
We have helped countries implement complex reform
agendas, encouraging initiatives that pave the way for
successful and sustainable growth, effective project
implementation, and private investment. The World
Bank’s lending, technical support, and expertise support
countries in making decisions that are critical for lasting
growth, which benefits not only their citizens, but the
global community. Our IBRD operations, which span 59
countries, are aligned to help countries achieve the World
Bank Group’s twin goals of ending extreme poverty and
boosting shared prosperity, as well as the Sustainable ANSHULA KANT
Development Goals. Managing Director and World Bank Group
With the COVID-19 pandemic, we are all facing a new and Chief Financial Officer
severe global challenge, especially the poorest and most
vulnerable people in the countries we serve. The World Bank Group’s response has been swift and robust. We
expect to provide up to US$160 billion over 15 months, with about one-third of resources coming from IBRD to
support middle-income countries and one-third from IDA in the form of grants and highly concessional loans
to support low-income and vulnerable countries. This covers a range of interventions to strengthen primary
health care, expand disease monitoring and reporting, train frontline health workers, encourage community
engagement to maintain public trust, and improve access to treatment for patients.
The World Bank is also preparing for the macroeconomic impact of the COVID-19 crisis on countries. With the
backing of our capital increase, concluded in 2018, we are in a strong position to meet the increased demand
from our member governments. We will help countries strengthen social safety nets, support the private sector,
and counter financial market disruption.
Bolstered by the capital increase and a robust financial sustainability framework, our issuance of Sustainable
Development Bonds, including the recent US$15 billion raised in benchmark bonds across four currencies in
April 2020, supports a range of development programs and projects. Programs include the activities that are
essential to helping countries withstand the health impacts of the pandemic as well as speed up their economic
and social recovery.
I am delighted to share the development impact that the World Bank-financed projects achieved in fiscal year
2019 and provide a sense of what we expect to achieve in the future. These results are not possible without
the commitment of a large, diverse, and global set of investors supporting sustainable development. I thank our
investors for their trust in our institution and our global development mission, and I thank the World Bank Treasury
and operational teams for their commitment to strengthening development outcomes around the world. This
strong partnership is more essential today than ever before. And I am confident that together we can build a
resilient and sustainable future.
4
A Message from the Treasurer

O
ne of the core roles of the World Bank Treasury is
to raise funds from the capital markets to support
the financing that the World Bank provides to its
member governments. This enables them to implement
sustainable development projects and programs that
address some of the most challenging development
issues, including in crisis times like these as we face
the COVID-19 pandemic. We also work to promote and
grow capital markets that support regular, sustainable
finance flows to where they are needed most.
A
Annex 4
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As a pioneering issuer of green and sustainable bonds,

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Green Bond and Social Bond Principles, and through
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and build awareness about approaches that incorporate

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ESG factors into fixed-income investment.

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World Bank bonds offer investors the opportunity to earn

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a financial return while contributing to the betterment of
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Bank | 5
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World Bank Vice President & Treasurer

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society. Our Sustainable Development Bonds also help

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ions | 59
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investors manage ESG risks and achieve development

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ainable D
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impact goals. With our bonds, we are communicating the environmental and social impacts of all the products,
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in various sectors, through which we lend to member governments. We want investors to understand the value
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and benefit of what the entire balance sheet finances—how it contributes to development and the SDGs, not
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cle | 57
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only select environmental aspects such as our green bond portfolio.

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In June 2019, we celebrated the display of over 200 IBRD green and sustainability bonds on the Luxembourg
ch | 56
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Green and Sustainable Exchange. This event marked a major milestone in our efforts to communicate the ESG
urer | 9
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credentials of IBRD’s issuance program. It also signaled our commitment to apply the same disclosure and
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standards that we use for green bonds to all the bonds IBRD issues.
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We are pleased to present this first impact report on the entire portfolio of IBRD bonds. We
ment Bo
remain committed to improving the quality and depth of our reporting and to paving new
pathways for issuers and investors to join together and build the financial markets
we need to tackle global development challenges and achieve the SDGs by
2030. We can collectively contribute to improving living conditions, protecting
the planet, creating better jobs, improving health care and education,
n
and reducing inequality around the world for future generations. A

d
sustainable future requires us to focus on every aspect of our

Pr
society.
ocess | 55
ABOUT THE WORLD BANK:
Mission & Strategy

The International Bank for Reconstruction and Development was established in 1944 and
is the original member of the World Bank Group. IBRD is an international organization
and global development institution owned by 189 member countries. As the largest
development bank in the world, it supports the mission of the World Bank Group (WBG)2
by providing loans, guarantees, risk management products, and advisory services to
middle-income and creditworthy low-income countries. Today, IBRD and the International
Development Association (IDA), which was established in 1960 and lends to low-income
countries, are known collectively as the World Bank and share the same leadership and
staff. Both IBRD and IDA issue bonds in the international capital markets to support the
development mission. This report focuses on IBRD bond issuance.
At the heart of the World Bank Group’s This overarching strategic framework
strategy are two goals endorsed by its Board rests on four pillars: (1) serving all clients
of Governors in 2013: in low- and middle-income countries; (2)
• END EXTREME POVERTY: reduce the creating markets, mobilizing finance for
percentage of people living on less development, and expanding the use of
than US$1.90 a day to three percent private sector solutions; (3) leading on
by 2030. global issues; and (4) improving the ways
we do business to be agile, efficient, and
• PROMOTE SHARED PROSPERITY: closer to clients.
foster income growth for the bottom
40 percent of the population in every The WBG is committed to bringing
developing country. together the international community in
the urgent task of achieving the goals by
To deliver on the twin goals as well as 2030. They can be reached only through
support the Sustainable Development the collaboration of all partners, including
Goals, the WBG’s management and countries, other institutions, civil society,
shareholders have agreed on three main and the private sector.
priorities for our work with developing
Notes:
countries, including those affected by /2 For the purpose of this report, “World Bank” or the “Bank” refers to IBRD. The
fragility, conflict, and violence: accelerate World Bank Group consists of five organizations: International Bank for Reconstruction
and Development, International Development Association, International Finance
sustainable and inclusive growth, invest in Corporation, Multilateral Investment Guarantee Agency and International Centre for
Settlement of Investment Disputes.
human capital, and strengthen resilience.
Photo credit: © Heather Elliott / World Bank
Photo credit: © Henitsoa Rafalia / World Bank
4
SUPPORTING MEMBERS THROUGH A CRISIS:
The World Bank’s

Response to COVID-19
COVID-19 has become a global pandemic affecting virtually all countries. The extraordinary public health
measures taken by governments around the world – from social distancing to partial and complete
lockdowns – are resulting in a significant contraction of the world economy. Governments are taking
far-reaching health, social, and economic measures. Their actions are being matched by actions of the
multilateral institutions. The World Bank Group (WBG) is implementing a strong response to support its
members with an initial focus on emergency health support. In an immediate second phase the WBG is
supporting countries to cope with the economic and social crisis.
The WBG, across its financing institutions, IBRD, IDA, ARGENTINA

IFC, and MIGA, is prepared to deploy up to US$160 US$35 million to support the country to identify,
billion over the next 15 months to support COVID-19 isolate, and provide care to patients and prepare
measures that will help countries respond to and strengthen its health system.
immediate health consequences of the pandemic
and bolster economic recovery. The broader DOMINICAN REPUBLIC
economic program will aim to shorten the time to US$150 million to implement emergency measures
recovery, create conditions for growth, support to contain the spread and manage the impact of
small and medium enterprises, and help protect the the pandemic by tapping contingency financing
poor and vulnerable. There will be a strong poverty that was put in place in 2017 to respond to natural
focus in these operations, with an emphasis on disasters and health emergencies.
policy-based financing, and protecting the poorest
households and the environment. ECUADOR
US$20 million to support the national plan with a
The first US$12 billion WBG package of fast-track project that focuses on prevention and providing
financing to assist countries and companies in their adequate medical care and strengthening the
efforts to prevent, detect and respond to COVID-19 national public health system.
was approved initially on March 3 and was
increased to US$14 billion on March 17, 2020. The INDIA
IBRD share of this new financing was US$2.7 billion US$1 billion to purchase testing kits, personal
to strengthen national systems for public health protective equipment, ventilators, and medicines,
preparedness, including for disease containment, set up new isolation wards, increase infection
diagnosis, and treatment. The first set of these prevention and control measures.
emergency support operations was approved by
the World Bank Board of Directors on April 2, 2020. LEBANON
In parallel, the World Bank is redeploying resources US$40 million to restructure existing 2017 health
in existing projects, including through restructuring, program to finance procurement of medical goods
use of emergency components of existing projects and equipment and train health workers and
and triggering contingent financing. frontline responders.
As of early May 2020, the World Bank has financed,

and staff are implementing, COVID-19 programs
in nearly 100 countries. These programs build
on decades of work and the existing portfolio of
programs to support developing countries strengthen
health systems. This enables the World Bank to act
with speed and precision at this critical time. Among
Learn more:
the initial IBRD projects include the following: worldbank.org/COVID19
THE WORLD BANK’S APPROACH:
Engaging with Investors

on the SDGs
T
he World Bank (IBRD) issues bonds with two types of labels: World Bank Green Bonds and World Bank
Sustainable Development Bonds.
All World Bank development operations are designed to achieve positive environmental and social
impacts and outcomes consistent with the World Bank Group’s twin goals of ending extreme poverty and
advancing shared prosperity. Operations are approved by the World Bank Board of Executive Directors after
an extensive internal review process, which integrates sustainability policies and environmental and social
requirements. We take a portfolio approach to issuing sustainable bonds, which means we support a variety
of sustainable development sectors and the range of SDGs and do not earmark bond proceeds for individual
sectors or projects.
Over FY18-19, we used our issuance program to engage investors on the Bank’s development mandate,
explain how the use of bond proceeds supports the financing of development activities, and to describe how
these activities contribute to the SDGs. For the World Bank this has been an opportunity to draw attention to
the institution’s work to respond to key development challenges while supporting the financing of a broad
range of development sectors in line with our mission. For investors, it has been an opportunity to align their
investments to the SDGs, implement ESG strategies, and communicate sustainable investment priorities
to their stakeholders. The timeline on the following pages illustrates key transactions that were part of our
awareness raising activities.
HEALTH AND NUTRITION OF WOMEN AND CHILDREN

Ensuring that every woman and child has access to health care is pivotal for strengthening human
capital, building robust economies, and ending poverty. Multi-stakeholder partnerships such as
the Global Financing Facility (GFF) work alongside the World Bank to accelerate improved health
outcomes. Pairing GFF funding with World Bank lending helps to buy down the cost of financing
for eligible projects, so that governments can expand their investments in human capital. The
GFF is currently providing US$46 million together with IBRD financing for projects in Indonesia,
Guatemala, and Vietnam in support of country-led efforts to improve the health and nutrition of
women, children, and adolescents. The IBRD health and nutrition portfolio currently includes 29
projects with total commitment of US$6.5 billion.
GENDER EQUALITY
The World Bank takes as its starting point that no country, community, or economy can achieve its
potential or meet the challenges of the twenty-first century without the full and equal participation
of women and men, girls and boys. World Bank diagnostic assessments, country strategies, and
project design consider gender gaps and solutions in four key areas for the greatest impact: (1)
reducing gaps in health, education, and social protection; (2) removing constraints for more and
better jobs; (3) removing barriers to women’s ownership and control of assets; and (4) enhancing
women’s voice and agency and engaging men and boys.
WATER
The World Bank is the world’s largest multilateral source of financing for water in developing
countries with US$37.4 billion in water-related investments. In 2019, the World Bank published its
first Strategic Action Plan for Water aligning the Bank’s investments across three pillars: Sustain
Water Resources; Deliver Services (including water supply, sanitation, and irrigation services);
and Build Resilience. The Global Water Security & Sanitation Partnership, launched in 2017 and
housed at the World Bank, complements the Bank’s efforts and supports countries in meeting
SDG targets, particularly those of Goal 6: “ensure availability and sustainable management of
water and sanitation for all”. IBRD’s Water portfolio is currently comprised of 69 projects with
total commitments of around US$14.9 billion.
4
OCEANS, FISHERIES & COASTAL ECONOMIES

The World Bank’s Blue Economy program supports economic growth, social inclusion, and
livelihoods while also supporting the sustainable and integrated development of marine and
coastal resources in healthy oceans. Projects range from large regional fisheries programs
in Africa and the Pacific, to reducing water and marine pollution from all sources including by
improving sanitation, and supporting sustainable coastal development, with a focus on climate
change impacts such as erosion. This includes PROBLUE, a multi-donor trust fund that supports
the sustainable and integrated development of economic sectors in healthy oceans. Activities
are focused on: improving the management of fisheries and aquaculture; addressing marine
pollution, including litter and plastics; sustainably developing key sectors such as tourism,
maritime transport, and off-shore renewable energy; and building government capacity to
manage marine and coastal resources. The World Bank’s oceans program currently includes
US$5.6 billion in active IBRD and IDA projects.
SUSTAINABLE CITIES
The World Bank Group is working with the private sector, governments, and civil society to
manage fragility risks by engaging early to build clean and efficient cities and communities that
are more resilient to climate change and natural disasters. This includes confronting barriers
that prevent marginalized groups from fully participating in political, economic, and social life.
The Bank has invested on average about US$6 billion annually in urban development and
resilience projects (FY17–19), excluding investments in sustainable urban transport and water.
IBRD’s annual disaster risk management investment, of which urban investments are a central
pillar, has increased steadily over the past seven years – from US$1.9 billion in FY12 to US$2.3
billion in FY19. Our City Resilience Program works with cities to strengthen resilience and access
a range of financing options. Since June 2017, it has worked with 57 cities in 39 countries for a
combined US$2.3 billion (of which, US$975 million is for IBRD countries).
FOOD LOSS & WASTE

The environmental impacts of food that is produced, but ultimately lost or wasted, are massive
– accounting for 8% of global annual GHG emissions. The World Bank is working to understand
the economic drivers and the impacts of policy and financial levers and developing food smart
diagnostics to inform country-specific action and financing needs. World Bank projects are
working to improve post-harvest technologies for food storage, handling and processing,
develop cold chain infrastructure and biogas energy facilities, and create cooperatives and
access to markets. IBRD’s Food Loss and Waste portfolio is currently comprised of
25 projects across regions with total commitments of around US$4.6 billion.
CLIMATE RESILIENCE
The WBG Climate Change Action Plan (2016-2020) lays out ambitious targets to be met by
2020, including increasing the climate-related share of the WBG’s lending to 28% - reached in
2018, helping client countries add 30 gigawatts of renewable energy, put in place early warning
systems for 100 million people, and develop climate-smart agriculture investment plans for at
least 40 countries, among other priorities. Every World Bank project is screened for climate co-
benefits and the World Bank reports annually on the GHG emissions reductions achieved across
its lending operations³. In FY19, IBRD projects had projected net GHG emissions reductions of
71.5 million tCO2eq/year.
Notes:
/3 GHG accounting is undertaken by IBRD investment projects where World Bank approved GHG accounting methodologies are available. World
Bank GHG emissions data is subject to change according to the portfolio and lending-instrument mix reported. IBRD emissions data represents a
subset of the net emissions data reported for the World Bank (IDA and IBRD) under the Bank’s corporate scorecard. The World Bank has committed
to report GHG emissions for the World Bank portfolio (i.e., IDA and IBRD combined) and the disaggregation of the two may not always be available.
Net proceeds of a specific World Bank bond are not committed or earmarked for lending to, or financing of, any particular projects or programs, and
returns on a specific World Bank bond are not linked to the performance of any particular project or program.
World Bank
Bond Timeline
The World Bank issued the first labeled green bond for mainstream institutional investors.
FY18 & FY19
As an innovator and leading issuer in capital
markets for over seventy years the World Bank
plays an important role pioneering financial tools
2018
that deepen and expand markets and provide
the financing needed to tackle the world’s most
difficult development challenges.
JULY AUGUST SEPTEMBER OCTOBER NOVEMBER

World Bank The World Bank World Bank
CAD 1 billion issues US dollar- marks the
denominated 10-year
benchmark
sustainable anniversary
bond highlights development notes of the
the benefits that provide investors green bond
of investing in return exposure to market with
women and the ESG performance a landmark
young people of UN Global USD 1.3 billion
Compact signatories issuance
through the Global bringing its
World Bank Sustainability World Bank green bond
issues a SEK Signatories Index joins forces with program to
1 billion 7-year 7.5% VC ER working Skandia, SEB USD 13 billion
bond, the first with UBS Life & Investment
in a series of Management,
Sustainable Handelsbanken
Development Fonder, and
Bonds issued to Church of
raise awareness Sweden to raise
for the critical awareness for
role that water Sustainable
and ocean Development
resources play Goal 11:
in development Sustainable Cities
around the world and Communities
Net proceeds of a specific World Bank bond are not committed or earmarked for lending to, or
financing of, any particular projects or programs, and returns on a specific World Bank bond are not
linked to the performance of any particular project or program.
4
2019
DECEMBER JANUARY MARCH MAY JUNE
Sustainable World Bank Luxembourg Stock
Development launches the Exchange began
Bonds linked to the first Sustainable displaying all World
Solactive Human Development Bank bonds on the
Capital World MV Bond to raise Luxembourg Green
Index which selects awareness Exchange or LGX,
companies for fair for food loss the exchange’s
work practices and waste, platform dedicated
and contribution to focusing on to green, social and
societal development the challenges sustainable financial
outlined by instruments. The
Sustainable World Bank lists event was marked
World Bank issues with a ceremony
a CAD 1.5 billion Development its first bond on
Goal 12.3. The Euronext Dublin, at the Sustainable
Sustainable Finance Forum in
Development Folksam Group a 10-year global
was the sole sustainable Luxembourg.
bond, the largest
bond issued by an investor in the development
SSA (sovereign, three-year, USD bond, raising
supranational 300 million bond EUR 1.5 billion
agency) in the from dedicated
Canadian market, sustainability
to raise awareness investors.
for the long-
lasting benefits
of investing
in the health
and nutrition of
women, children,
and adolescents
Issuance and Lending

Report
SummarySummary
for FY19
ISSUANCE HIGHLIGHTS:
In fiscal year 2019 (FY19: July 1 - June 30), the World Bank (IBRD) issued
US$54 billion in bonds in 27 different currencies through 440 transactions
to support the financing of sustainable development projects and programs.
This includes US$2.7 billion in green bonds.74
FY19 Breakdown
FY19 Breakdown by
by Currency
Currency
Other
SEK
7%
CAD 2%
3%
AUD
4%
EUR
9%
USD
64%
GBP
11%
Annual Issuance
Annual Issuance
70
60
50
US$ billion
40
30
20
10
-
FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19
Benchmark/Global Bonds Other Plain Vanilla Bonds Structured/Risk Transfer Notes
Notes:
/4 For more information, please see the 2019 World Bank Green Bond Impact Report: http://pubdocs.worldbank.org/en/790081576615720375/IBRD-Green-Bond-Impact-
Report-FY-2019.pdf.
Notes:
/7 For more information, please see the 2019 World Bank Green Bond Impact Report: http://pubdocs.worldbank.org/en/790081576615720375/IBRD-Green-Bond-Impact-
Report-FY-2019.pdf.
4
4
WORLD BANK BONDS
WORLD BANK BONDS FOR
FOR SUSTAINABLE
SUSTAINABLEDEVELOPMENT
DEVELOPMENT | | IMPACT
IMPACTREPORT
REPORT2019
2019 17
13
COMMITMENTS:
NEW COMMITMENTS:
In FY19, IBRD committed US$23.2 billion through 100 new projects to fund
sustainable development activities in middle-income countries.
IBRD LENDING COMMITMENTS SUPPORT CRITICAL AREAS
23 billion
54% for lower middle-
income countries
57% have a gender focus*
31% have climate co-benefits
*As a percentage of total new projects committed
FY19 Loan
FY19 Commitments by
Loan commitments byRegion
region
Africa
4%
South Asia
17% East Asia & Pacific
17%
Middle East &

North Africa
21%
Europe & Central Asia
16%
Latin America & Caribbean

25%
14
18 WORLD BANK BONDS
BONDS FOR
FOR SUSTAINABLE
IMPACTREPORT
REPORT2019
2019
Commitments
Portfolio Commitments
&&Disbursements
Disbursements
By Sector: Committed/a
Allocated &
Outstanding/b
US$eq. billion
Agriculture, Fishing & Forestry 7.7 2.9
Education 5.7 2.5
Energy & Extractives 21.6 11.6
Financial Sector 5.5 4.3
Health 5.1 1.9
Industry Trade & Services 9.5 4.8
Information & Communications 0.2 0.1
Public Administration 11.8 8.2
Social Protection 6.4 4.5
Transportation 26.1 13.1
Water, Sanitation & Waste Management 16.3 7.2
Total 115.9 61.3
Notes:
6%
Amounts may not add up
due to rounding.
Social Protection
22%
/a The committed amount
is the World Bank loan
net of cancellations
reported in equivalent US
10%
Public Administration Transportation
$ billions Loans
denominated in other
currencies are converted
to US$ equivalents using
the spot exchange rate
on the report date (June
30, 2019).
8%
Industry, Trade &
/b The allocated Services
amount is the amount
of World Bank bond
proceeds allocated to
4%
14%
support the financing
of disbursements to
the project reported in
Health
equivalent US$ billions. Water &
Sanitation
5%
Loans denominated
in other currencies
are converted to US$
equivalents using the Financial Sector
spot exchange rate on
7%
the report date (June 30,
2019)
19%
Energy & Extractives 5%
Agriculture, Fishing
& Forestry
Education
4
4
WORLD BANK BONDS
FOR SUSTAINABLE
IMPACTREPORT
REPORT2019
2019 19
15
By Region: Committed/a Allocated &

Outstanding/b
Notes:
Amounts may not add up due to
rounding.
US$eq. billion /a The committed amount
Africa (AFR) 7.4 3.7 is the World Bank loan net
of cancellations reported in
East Asia & Pacific (EAP) 23.8 12.6 equivalent US$ billions. Loans
denominated in other currencies
Europe & Central Asia (ECA) 20.8 10.7 are converted to US$ equivalents
using the spot exchange rate on
Latin America & Caribbean (LAC) 25.3 15.2 the report date (June 30, 2019)
Middle East & North & Africa (MNA) 18.3 10.8
/b The allocated amount is the
South Asia (SAR) 20.3 8.3 amount of World Bank bond
proceeds allocated to support
Total 115.9 61.3 the financing of disbursements to
the project reported in equivalent
US$ billions. Loans denominated
in other currencies are converted
to US$ equivalents using the spot
exchange rate on the report date
(June 30, 2019).
ECA
18%
MNA
16% EAP
21%
AFR
6%
LAC SAR
22% 17%
Photo credit: © Curt Carnemark / World Bank
Impact
Highlights
4
22 WORLD BANK BONDS FOR SUSTAINABLE DEVELOPMENT
WORLD BANK | IMPACT
BONDS FOR REPORT
SUSTAINABLE 2019
DEVELOPMENT | IMPACT REPORT 2019 11
4 WORLD BANK BONDS FOR SUSTAINABLE DEVELOPMENT | IMPACT REPORT 2019 11
WORLD BANKWORLD
BONDS FOR SUSTAINABLE DEVELOPMENT | IMPACT REPORT 2019 1111
71
BANK BONDS FOR SUSTAINABLE DEVELOPMENT | IMPACT REPORT 2019
71
4 LOOKING BACK:
Total projectsImpact
Achieved completedHighlights WORLD BANK BONDS FOR SUSTAINABLE DEVELOPMENT | IMPACT REPORT 2019 11
84
71
Total projects completed
71 71
in FY19 Projects approved & disbursing
4
Total projects completed WORLD BANK BONDS FOR SUSTAINABLE DEVELOPMENT | IMPACT REPORT 2019 11
71 in FY19
Total
Total in in FY18-FY19
projects
FY19 completed
Projects
projects completed in FY19
completed
84
HUMAN
in
HUMAN CAPITAL
in
CAPITAL FY19
FY19Total projects completed
Projects approved & disbursing
HUMAN CAPITAL HUMAN
HUMAN CAPITAL
CAPITAL
in FY19
4,421,791
in FY18-FY19
4,421,791 People
4,421,791
4,421,791
People
HUMAN CAPITAL
HUMAN CAPITAL benefiting
1,210,000
benefiting from
from social
social safety
HUMAN CAPITAL benefiting
safety net
People
benefiting from
net programs
programs People
social
from social safety
safety net net
People
programs
programs in
SDG target 1.3 – implement nationally
appropriate social protection systems and
measures for all, including floors, and by 2030
achieve substantial coverage of the poor and
benefiting from social safety net programs
4,421,791
the vulnerable
Iraq and North Macedonia
4,421,791
in Brazil
HUMAN CAPITAL
4,421,791
158,471
People
26,935,000
People
158,471
benefiting from social safety net programs People
SDG target 2.2 – end all forms of malnutrition,
including achieving by 2025 the internationally
1,210,000
People
158,471 People
benefiting from social safety
fromnet safety net programsPeople
programs
People benefiting social
People agreed
SDG
children
targets
target
appropriate
1.3 on
under
stunting and
– implement
5 years
social
wasting in
nationally
of age,systems
protection and address
and the
provided with essential
who received
provided health,
with nutrition,
essential health,
essential and
health, People
population
nutrition, andand
nutrition, services
population
population
provided with essential health, nutrition, and population services services nutritional needs of adolescent
measures for all, including floors,
and lactating women, and older
girls,
andpregnant
by 2030
services infrom
benefiting Angola, Egypt, andnetIndonesia achieve substantial coverage of persons
the poor and
and population services in social safety
Eswatini programs in
the vulnerable
provided withIraq
essential
and Northhealth, nutrition, and population services
Macedonia
158,471
158,471
1,274,805
158,471
1,274,805
8,941,098
People
26,935,000
People
People People
People
People
SDG target 3.8 – achieve universal health
SDG target
coverage 2.2 –including
(UHC), end all forms of malnutrition,
financial risk
1,274,805 People
providedhealth,
with essential health, nutrition, and population including achieving by 2025 the internationally
People
provided nutrition, and population servicesservices protection,
People access to quality essential health
provided withwith access
access to improved
to improved water
water sources
sources in agreed targetsand
care services, on stunting
access toand wasting
safe, in
effective,
access tohealth,
improved nutrition,
water and population
sources services children under 5 years essential
of age, and addressandthe
provided withwho
access
Brazil, to improved
received
China, essential
India, waterand
health,
Indonesia, sources
nutrition,
Iraq and population quality, and affordable medicines
2,950,548
nutritional needs of adolescent girls, pregnant
vaccines for all
services in Angola, Egypt, and Indonesia and lactating women, and older persons
1,882,000
1,274,805
2,950,548
provided with access to improved water sources
1,274,805
People
People
People
1,274,805
provided with access to improved sanitation services SDG target 6.1 – achieve universal and
8,941,098
2,950,548
People
People
provided withwith
provided access to improved
access sanitation
to improved services in
water sources equitable access to safe and affordable
SDG target 3.8for
– achieve universal health
provided
provided withPeople
withChina,
access
access to improved
improved
Indonesia,
to Iraq, andsanitation
sanitation services
Turkey services
water sources People
drinking water all
coverage (UHC), including financial risk
People
2,950,548
protection, access to quality essential health
provided
in withAzerbaijan,
Argentina, access with
provided to improved
Brazil,
accessChina, water sources
to improved water sources in
1,305,681
care services, and access to safe, effective,
provided with access to improved sanitation services
2,950,548
Colombia andBrazil,
India China, India, Indonesia, People
and Iraq quality, and affordable essential medicines and
SDG target
vaccines for6.2
all – achieve access to adequate
2,950,548
People
1,882,000
provided with access to improved sanitation services and equitable sanitation and hygiene for all
1,305,681 PeoplePeople and end open defecation, paying special

provided with improved urban living conditions attention to the needs of women and girls and
People
provided with access to improved sanitation People
services those in vulnerable
SDG target situations
6.1 – achieve universal and
1,305,681
People
provided withprovided
access with access to improved
to improved sanitation
sanitation services services in equitable access to safe and affordable
1,305,681
drinking water for all
provided
provided with
with improved
China,
improved urban
Indonesia,
urban living
Iraq, conditions
and Turkey
living conditions
People
in Azerbaijan, Brazil, China, Egypt and Paraguay
People
RESILIENCE
provided with improved
provided urban living conditions
1,305,681
with improved urban living conditions SDG target 6.2 – achieve access to adequate
1,305,681 People
SDGequitable
and target 11.1sanitation
– By 2030,andensure access
hygiene for all
for all
and endto adequate, safe and
open defecation, affordable
paying special
RESILIENCE housing and basic services and upgrade
attention to the needs of women and girls and
People
69,797 USD
slums in vulnerable situations
those
provided with improved urban living conditions in India
provided with improved urban living conditions SDG target 7.3 – double the global rate of
improvement in energy efficiency
ESILIENCE
ESILIENCE
RESILIENCE
RESILIENCE
RESILIENCE 3,330,267 MWh projected lifetime energy or fuel savings
15,265,288 tCO eq.

of annual energy/fuel savings
SDG target 9.4 – upgrade infrastructure and
retrofit industries to make them sustainable,
3,330,267
1,705,913
with increased resource-use efficiency and
69,797
3,330,267
2 greater adoption of clean and environmentally
net GHG emissions reduced annually
ESILIENCE MWh
USD tCO eq. SDG
soundtarget 7.3 – double
technologies the globalprocesses,
and industrial rate of
3,330,267 MWh
ESILIENCE MWh MWh
projected net GHG emissions reduced annually
lifetime energy or fuel savings
2 improvement in energy
with all countries taking efficiency
action in accordance
with their respective capabilities
of
of annual
annual energy/fuel
energy/fuel savings
of annual energy/fuel
savings savings
in China
1,705,913
15,265,288
1,705,913
of annual energy/fuel savings
3,330,267
SDG target 9.4 – upgrade infrastructure and
3,330,267
Notes:
tCO tCO eq.results from projects that
2 2of eq.
retrofit industries to make them sustainable,
tCO eq.
1,705,913 tCO eq.
with increased resource-use efficiencyinand
MWh
tCO eq.
/5 The projected impact highlights have been aggregated where possible and represent a subset
FY19 (fiscal years include July 1 - June 30).netnet
GHGGHG emissions
emissions reduced
reduced 2annually
annually
2
were approved and began disbursing FY18-
greater adoption of clean and environmentally
and therefore not allofnet
net GHG
GHG
annual
regions MWh emissions
emissions
Projects
energy/fuel
or sectors
are added
reduced
reduced
savings
may be represented
to the report
in annually
annually
once disbursements have begun. Not all projects
the highlights. See “Projects by Sector” for target project level
are represented
sound technologies
results
with
in the
andresults
for the settaking
all countries
presented
industrial
of 84 completed
above
processes,
projects. For
of
in annual
definitions of the indicators
China, energy/fuel
used above see World
Indonesia and savings
Bank Corporate Scorecard Tier 2 indicator definitions: http://pubdocs.worldbank.org/en/404971580918297358/World-Bank-
Mexico 2 with their respective capabilities
Group-Scorecard-2019-definitions.pdf
Notes: 1,705,913 tCO eq.

mpact
mpact Highlights
Highlights
Impact Highlights
SUSTAINABLE & INCLUSIVE GROWTH
55
5 for
for
5 projects completed in FY19
projects
projects completed in
in FY19
mpact Highlights
SUSTAINABLE & INCLUSIVE GROWTH for
5 for projects
for projects
completed
completed
completed ininFY19
FY19
FY19
Projected Impact Highlights
4
BANK
BONDS FOR SUSTAINABLE DEVELOPMENT | IMPACT
WORLD BANK BONDSREPORT 2019
FOR SUSTAINABLE DEVELOPMENT | IMPACT REPORT 2019 5 23
for projects completed in FY19
SUSTAINABLE
USTAINABLE
10 WORLD&&BANK
INCLUSIVE
SUSTAINABLE
INCLUSIVE
BONDS FOR
SUSTAINABLE & INCLUSIVE
37,172
GROWTH
& GROWTH
INCLUSIVE Farmers
SUSTAINABLE
GROWTH
GROWTH
Farmers
DEVELOPMENT | IMPACT REPORT 2019
for active projects
mpact Highlights
adopting improved agricultural technology
10 SUSTAINABLE
WORLD & INCLUSIVE
BANK BONDS FOR
SUSTAINABLEGROWTH
919,817
37,172
37,172
37,172
1,876,951 Farmers
for projects completed in
5 FY19
37,172 Impact Highlights

adopting Farmers
Hectares SDG target 2.4 – ensure sustainable
Projected
Farmers Hectares Farmers
provided
adopting with new/improved
improved Farmers
improved
Farmers
agricultural
agricultural technology
irrigation and
technology drainage
food production systems and implement
5
resilient agricultural practices that increase
37,172
adopting improved agricultural technology in Angola, Brazil,
provided
adopting
adopting with
adoptingimproved new/improved
improved
improved agricultural
agricultural irrigation
Pakistan technology
agricultural
India, and
and drainage
technology
technology in Brazil
productivity and production, that help
for active projects
919,817
maintain ecosystems, that strengthen
Farmers Hectares capacity for adaptation to climate change,
1,178,400
35,693
919,817
extreme weather, drought, flooding and
SUSTAINABLE & INCLUSIVE GROWTH for active projects
919,817
other disasters, and that progressively
adopting improved agricultural technologyHectares
919,817
improve land and soil quality
SUSTAINABLE & INCLUSIVE provided with
Teachers
new/improved irrigation
GROWTH
Hectares
Teachers
provided with new/improved
and drainage
irrigation and drainage in
certified or
provided trained
with new/improved
Angola, Hectares
Hectares
Hectares
irrigation
India, Indonesia, and drainage
and Tunisia
919,817
35,693
1,876,951
certified with
provided
provided or trained
with new/improved irrigation anddrainage
drainage
in Argentina, China, Indonesiairrigation
provided with new/improved
new/improved irrigation and
and
and the Philippinesdrainage
37,172
provided with new/improved irrigation and drainage
2,947,173
SDG target
targets2.4 4.3,– 4.4 – ensure equal
Teachers
Hectares Farmers SDG ensure sustainable
1,876,951
access for all women andand menimplement
to
35,693
food production systems
2,451
certifiedimproved
or trainedagricultural technology in Angola, Brazil, affordable quality technical, vocational and
irrigation andStudents
resilient agricultural practices that increase
35,693
provided with adopting
and Farmers
new/improved drainage tertiary
SDG education,
target 2.4 – including
ensure university;
sustainable
Farmers productivity and production, that help
35,693
India, Pakistan
adopting improved
benefitting
adoptingagriculturalTeachers
from direct interventions
Medium
ChinaTeachers
improved and
technology
agricultural Small
to enhance learning in
technologyEnterprises
in Angola, Brazil,
and
foodsubstantially
maintain
of
production
youth agricultural
resilient and
increase
systems
ecosystems,
adults who
the implement
thatand
tohave
practices
number
strengthen
relevant
that increase
Teachers capacity for adaptation climate change,
1,178,400 Medium and Small Enterprises

Brazil and
2,451
skills,
extreme including
productivity technical
and production,
weather, and vocational
that help
drought, flooding and
certified or trained Teachers
35,693
India, and Pakistan
benefitting from financial services skills, for employment, decent jobs and
74,800
maintain ecosystems, that strengthen
other disasters, and that progressively
certifiedor
certified
certified
benefittingortrained
or trained
trained
from in El Salvador
financial services Hectares
and the Philippines entrepreneurship
capacity landfor adaptation to climate change,
1,178,400
Medium and Small Enterprises improve and soil quality
919,817
certified or trained extreme weather, drought, flooding and
Teachers Teachers
provided with new/improved irrigation and drainage in
3,460
benefitting from financial services other disasters, and that progressively
Hectares
2,451
Angola,
recruitedIndia, Indonesia,
or trained and Jordan,
in China, Tunisia and Tunisia improve land and soil quality
Hectares
certified or trained
2,451 3,460
MW SDG
SDG target
target 8.5, 8.10–– Byachieve full and
2,451
7.1, 7.2 2030, ensure
MW
2,947,173
SDG targets 4.3, to
4.4affordable,
– ensure equal
Medium and Small Enterprises
provided with new/improved irrigation
Angola, India, Indonesia, and drainage
and Tunisia productive employment and decent work
605
universal access reliable
access for allenergy
women and menincrease
to for young
Medium
Mediumand
andSmall
SmallEnterprises
of expanded power generation capacity
Enterprises
of expanded power generation
MW (conventional/
capacity (conventional/
for
andallmodern
women
affordable
and men,
quality
including
services;
technical, vocational and
benefitting fromoffinancial services Students people and persons with disabilities,
2,451
substantially the share of renewable
equal energy
2,947,173
SDG targets 4.3, 4.4 – ensure
renewable)
benefitting
benefitting constructed
from
renewable)from
benefitting from
expanded
financial
financial
financial
or Medium
rehabilitated
power
services
services
services and
generation Small
capacity Enterprises
(conventional/ tertiary
and
in the education,
equal pay
global for
energy including
work
mix of university;
equal value;
35,693
access
and for all women
substantially and men
increase to
constructed
benefitting
renewable) or
from rehabilitated
direct interventions
constructed or in to enhance
Egypt
rehabilitated and learning in
Indonesia Strengthen the capacity of the number
domestic
benefitting from financial
benefitting services
from financial services in Belarus, Republic of Congo,
Students
affordable
of youth and quality
adultstechnical,
who have vocational
relevant and
3,460
19,837
Brazil and China
Jamaica, and Turkey
financial
tertiary
skills,
institutions
education,
including
to encourage
including
technical and
and to
university;
vocational
3,46019,837
expand access to banking, insurance and
Teachers and substantially
skills, for employment,increase the jobs
alldecent
number and
74,800
benefitting from direct interventions to enhance learning in financial
of youth services forwho
3,460
benefitting from financial services and adults
entrepreneurship have relevant
MW
2,761,000
People Brazil and China
People certified or trained People skills, including technical and vocational
MW
MW Teachers skills, for employment, decent jobs and
74,800
MW of expanded
withpower generation capacity (conventional/
Farmers
3,460
provided new/improved
provided
recruited or trained electricity
with new/improved
in China, service
electricity
Jordan,
service
in Colombia
and Tunisia
entrepreneurship
of
of expanded
provided
of expandedwith
expanded
renewable) power
power
power
constructed generation
new/improved
generation
generation
or capacity
electricity
capacity
capacity
rehabilitated (conventional/
service
(conventional/
(conventional/
of reached
expandedconstructed
renewable)
with
power generation
constructed
agricultural
or
Teachers
assets or services in Angola, China,
capacity (conventional/
rehabilitated SDG target 8.5, 8.10 – achieve full and
MW renewable)
renewable) constructed or
or rehabilitated
rehabilitated
2,451
Cote D’Ivoire, India, Montenegro, Pakistan, and Tunisia SDG targetemployment
productive 9.1 – developand quality,
decentreliable,
work
recruited or trained in China, Jordan, and Tunisia
605
19,837
renewable) constructed or rehabilitated sustainable
for all women andand resilient infrastructure,
men, including for young
579,584
including regional and trans- border
19,837
of expanded power generation capacity (conventional/ SDG target 8.5, 8.10with – achieve full and
579,584
people and persons disabilities,
renewable) constructed orMedium and Small Enterprises infrastructure, to
forsupport economic
1,500,000
19,837
productive employment work ofand decent work
605People
and equal pay equal value;
People rehabilitated People development
for all women
Strengthen theand
and human ofwell-being,
men, including
capacity domestic with a
for young
People
People benefitting
benefitting fromwith
People financial
provided withJamaica,
from
enhanced
new/improved
financial
services
Medium
access
services
in
to India
electricity and
in
and Belarus,
Turkey
People
Small
transportation
service
Republic of Congo,
Enterprises
services
focus
people
financial
for all
onand
affordable
personsto
institutions and
withequitable
disabilities,
encourage access
and to
19,837
People
provided
provided
provided
with with
with
with
enhanced
and Turkey
new/improved
new/improved
new/improved
with enhanced
access
benefitting toaccess
from electricity
electricity
electricity
transportation
financial services service
service
service
to transportation
servicesservices
in Belarus, in Indiaof Congo,
Republic
and equal
expand
Strengthen
financial
pay for
access
services
work of equal
to banking,
the capacity
for all of domestic
value;and
insurance
3,460
2,761,000
financial institutions to encourage and to
provided withJamaica,
with enhanced new/improved
access andtoTurkey electricity service
transportation services
People expand access to banking, insurance and
3,428,277
5,000,000
financial services for all
MW Farmers
2,761,000
provided with new/improved electricity service
579,584
SDG target 14.5 – conserve at least 10
m3in Angola, China,
3,428,277
reached with agricultural assets or services per cent of coastal and marine areas,
Hectares
579,584
of expanded Cote
power generation
dredged material
D’Ivoire, capacity
removed from
India, Montenegro, (conventional/
Farmers
waterways
Pakistan, and Tunisia consistent
SDG targetwith9.1 –national
develop and international
quality, reliable,
579,584 People of sustainableor userehabilitated

marine-protected areas in Africa law and based
sustainable andon the best
resilient available
infrastructure,
renewable) constructed
m
People
People
m
reached with agricultural
Cote D’Ivoire,toIndia,
assets or3services in Angola, China,
3
Montenegro, services
Pakistan, and Tunisia
scientific information
including regional and trans- border
SDG target 9.1to–support
infrastructure, developeconomic
quality, reliable,
People
with enhanced access transportation
1,500,000
579,584
19,837
dredged material removed from waterways sustainable and andresilient
humaninfrastructure,
61,986
development well-being, with a
345,595
with
with
with enhanced
enhanced
enhanced
dredged access
access
access
material totransportation
to
to
removed transportation
transportation
from waterways services
services
services including regional and
focus on affordable and equitabletrans- border access
with enhanced access to transportation services People infrastructure,
for all to support economic
1,500,000 People
in China and Eswatini Hectares
People Hectares
with enhanced access to transportation services in India
development and human well-being, with a
3,428,277
focustarget
SDG on affordable and equitable
15.2 – promote the access
of forest reforested or rehabilitated
People
61,986
withofnew/improved
with enhanced
provided forest
accessreforested, rehabilitated
to transportation
electricity or brought
services
service under
3,428,277
for all
implementation of sustainable
management
enhancedplans in China, India, and Mexico
3,428,277
management of all types of forests, halt
5,000,000
with access to transportation
3 services in India
m deforestation, restore degraded forests
222,510
Hectares 3 SDG target
target 14.5 conserve at least 10
mm 33 SDGsubstantially
and 11.5 –increase
By 2030, significantly
afforestation
Hectares
m
dredged material removed from waterways 3 Hectares per cent
reduce of coastal
the number and marineand
of deaths areas,
3,428,277
and reforestation globally
5,000,000 Hectares consistent

the numberwith nationalaffected
and international
of forest reforested
dredged
dredged
dredged material
material
material or rehabilitated
removed
removed
removed fromwaterways
use from
from waterways
waterways
of people and
579,584 Peoplem
of sustainable marine-protected areas in Africa SDG
law andtarget
based14.5 on–theconserve
best at least
available 10
of forest reforested
dredged material or
of landremoved
rehabilitated
area under from waterways in Indonesia
substantially
per centrelative
of
decrease
coastal
the direct
and marine
economic
areas,
sustainable management 3 Hectares
practices in scientific
losses
consistent
information
product caused
to global
with national
gross domestic
and international
by disasters, including
India
of and Mexico
sustainable use marine-protected areas in Africa law and baseddisasters,
on the best withavailable
61,986
water-related a focus
345,595
dredged material removed from waterways SDG target
scientific 15.2
the–poor
information promote the
61,986
on protecting and people in
implementation of sustainable
with enhanced access to transportation services vulnerable situations
61,986
management of all types of forests, halt
Hectares Hectares
345,595
deforestation, restore degraded forests
Hectares
Hectares of forest reforested, rehabilitated or brought under
SDG target 15.2 –increase
and substantially
implementation
and reforestationofglobally
promoteafforestation
sustainable
the
Hectaresof forest reforested or rehabilitated
61,986
of forest management
reforested orrehabilitated
rehabilitated Hectares
plans in China, India, and Mexico management of all types of forests, halt
3,428,277
of
offorest
forestreforested
reforested or
or rehabilitated SDG target 15.2
deforestation, – promote
restore degraded the forests
222,510
of forest reforested,
of forest reforested or rehabilitatedrehabilitated or brought under implementation
and substantiallyofincreasesustainable
afforestation
Hectaresm management plans in China, India,3and Mexico management of all
and reforestation globally types of forests, halt
of forest reforested or rehabilitated inHectares

222,510 Hectares
China and substantially increase afforestation
dredged material
of land removed
area under from waterways
sustainable management practices in and reforestation globally
India and Mexico
of land area under sustainable management practices in SDG target 15.2 – promote the
Notes: implementation of sustainable
India and Mexico management of all types of forests, halt
61,986 Hectares
A completed project is, in general, one in which implementation and loan disbursements are complete and repayment of the loanSDG
has begun.
target 15.2 – promote the forests
deforestation, restore degraded
Corresponding project tables can be found on the World Bank Treasury website: https://treasury.worldbank.org/ under Sustainable
implementation
and substantiallyofincrease
sustainable
afforestation
Development management
and of allglobally
reforestation types of forests, halt
84
24 WORLD BANK BONDS WORLD BANK BONDS
FOR SUSTAINABLE FOR SUSTAINABLE
DEVELOPMENT DEVELOPMENT
| IMPACT REPORT 2019 | IMPACT REPORT 2019 11
4
Projects approved & disbursing

8484
LOOKING FORWARD:
in FY18-FY19
Projects approved
Projects approved & disbursing & disbursing
5
84
in Projects approved & disbursing
FY18-FY19
in FY18-FY19
84
HUMAN CAPITAL
Projects approved
in Projects
FY18-FY19 approved& disbursing
disbursing in FY18-FY19
in FY18-FY19
and
HUMAN CAPITAL
HUMAN CAPITAL
HUMAN CAPITAL 1,210,000 People
benefiting from social safety net programs in
appropriate social protection systems and
measures for all, including floors, and by 2030
achieve substantial coverage of the poor and
1,210,000
the vulnerable
1,210,000
1,210,000
HUMAN CAPITAL PeoplePeople
SDG target
appropriate
SDG target
appropriate
social
1.3 –1.3implement
– implement
protection nationallyand
systems
nationally
measures
appropriate all,social
forsocial protection
including floors, systems
and by and 2030
People measures for all, including floors, and and
protection systems by 2030
26,935,000
benefiting from social safety net programs in achieve
measures
SDG target substantial
achieve2.2 for all, coverage
including
– end all
substantial floors,
forms of
coverage of the
and poor
the poor2030
by
of malnutrition, and
and
benefiting from social safety net programs in the vulnerable
benefiting from social safety net programs in achieve the substantial
vulnerable coverage of internationally
the poor and
1,210,000 PeoplePeople
Iraq and North Macedonia including achieving by 2025 the
the vulnerable
agreed targets
Iraq and North Macedonia SDG target 1.3 on stunting and
– implement wasting in
nationally
children
appropriate under 5 years
social of age,systems
protection and address and the
who received essential health, nutrition, and population nutritional needs of adolescent girls, pregnant
26,935,000
26,935,000
measures SDG for
target all,2.2
including
– end floors,
all forms and
of by 2030
malnutrition,
services in from
Angola, Egypt, and SDGlactating
and target 2.2
women,– end all forms
and older of malnutrition,
persons
netIndonesia achieve substantial coverage ofthe
the poor and
26,935,000 People
benefiting social safety programs in including
including
SDG target achievingachieving by
by all
2025 2025 the internationally
internationally
People the agreed 2.2
vulnerable targets– end on stuntingforms andofwasting
malnutrition,
in
People
who received essential health, nutrition, and population
agreed
including
children
agreed
targets
children achieving
underneeds
targets
nutritional
underon stunting
5 by
5onyears
years
stunting
2025 ofand
of age,
thewasting
age,
andand
of adolescent
and
wasting
girls,
in the
internationally
address
address in the
pregnant
who receivedservices
essential health,Egypt,
nutrition,
and and population
8,941,098 PeoplePeople
in Angola, Indonesia nutritional
childrenandunder needs
lactating of adolescent
5 women,
years ofand
age, older girls,
and pregnant
address
persons the
who received essential health,
and nutrition,
Indonesiaand population
26,935,000
services in Angola, Egypt, and lactating
nutritional
SDG targetneeds 3.8 women, and universal
of adolescent
– achieve older girls,persons pregnant
health
SDG target
and lactating
coverage (UHC),2.2 –
women, end
including all forms
and financial of
older persons malnutrition,
risk
services in Angola, Egypt, and Indonesia including achieving
protection, access tobyquality 2025essential
the internationally
health
8,941,098
provided with access to improved water sources in agreed targets
care services, andon stunting
access and
to safe, wasting
effective,in
8,941,098
children SDG target
under 5 3.8
years – achieve
of age, universal
and health the
address
who
Brazil,received essential health,and
nutrition,
Iraq and population quality,coverage
and affordable essential medicines and
People
China, India, Indonesia, (UHC), including financial risk
8,941,098
nutritional
SDG target
vaccines for needs
3.8 –ofachieve
all access adolescent universal girls, health
pregnant
protection, to quality essential health
services in Angola, Egypt, and Indonesia and lactating women, and older persons
1,882,000People
Peopleprovided with access to improved water sources in
Brazil, China, India, Indonesia, and Iraq
coverage
SDG target
protection,
coveragequality,
(UHC),
care services, 3.8 –including
access
achieve
and
and affordable
(UHC),
access
to quality
including
financial
universal
essential
essential
financial
risk
health
to safe, effective,
riskhealth
medicines and
provided with access to improved water sources in care vaccines
services, for all
and access to essential
safe, effective,
People protection, access to quality health
1,882,000
provided withIndia,
access to improved
and water
Iraq sources in quality,
SDG
care target and 6.1
services, affordable
– achieve
and accessessential
universal
to safe, medicines
and
effective, and
8,941,098
Brazil, China, Indonesia, vaccines for all to safeessential
provided with India,
Brazil, China, access to improved
Indonesia, andsanitation
Iraq services in equitable
quality, and accessaffordable and affordable medicines and
People
1,882,000
SDG
drinkingtarget
vaccines water
for 3.8 – achieve universal
allfor6.1all– achieve universal and health
China, Indonesia, Iraq, and Turkey SDG target
People coverage (UHC), including financial risk
1,882,000 People
provided with access to improved sanitation services in equitable access to safe and affordable
protection, access
drinking water for to quality
all essential health
provided with China,
access Indonesia, Iraq, and
to improved Turkey
water sources in care
SDGservices,
target 6.1and access universal
– achieve to safe, effective,and
provided
Brazil, People
withIndia,
China, access to improved
Indonesia, sanitation services in
and Iraq quality,
equitable
SDGtarget
SDG
vaccines
andaccess
target
for
affordable
6.1 –
6.2 –
all for to
to safe
achieve
achieve
essential
and
universal
access
medicines
affordable
to and
adequate
and
provided with access drinking
equitable water
access allsafeand andhygiene affordable
Iraq,to improved
Turkey sanitation services in
1,882,000 People
China, Indonesia, and and equitable
SDGwater sanitation
targetfor 6.2all– achieve access to adequate for all
drinking
and end
China, Indonesia, Iraq, and Turkey andopenequitable defecation,
sanitationpayingand hygiene special for all
attention to the needs
and end open defecation, of women paying and girls and
special
those in vulnerable
attention to the situations
SDG target 6.1 – achieve universal andneeds of women and girls and
SDG target
equitablethoseaccess in6.2 –toachieve
vulnerable safe access
situations
and affordableto adequate
provided with access to improved sanitation services in and
SDGequitable
target 6.2sanitation and hygiene for all
drinking water for– all
achieve access to adequate
China, Indonesia, Iraq, and Turkey and end
equitableopen sanitation
defecation, andpaying hygiene special
for all
attention
and end open to thedefecation,
needs of women payingand girls and
special
those
attention in vulnerable
to the needs situations
of women and girls and
RESILIENCE RESILIENCE those in vulnerable situations
SDG target 6.2 – achieve access to adequate
and equitable sanitation and hygiene for all
and end open defecation, paying special
attention to the needs of women and girls and
69,797
RESILIENCE
69,797
those in vulnerable situations
RESILIENCE SDG target 7.3 – double the global rate of
USD USD
SDG target 7.3 – double
improvement the
in energy global rate of
efficiency
improvement in energy efficiency
projected lifetime energy or fuel savings
projected lifetime energy or fuel savings
69,797
RESILIENCE
69,797
15,265,288
SDG target
SDG target 7.3 –9.4 double
– upgrade the global rate of
infrastructure and
USD
15,265,288 tCO eq.
improvement
SDG target 7.3in –energy
retrofit industries double efficiency
to make thethemglobal rate of
sustainable,
USD
projected lifetime
tCO eq.
energy or fuelreduced
savings 2
SDG target
improvement 9.4
with increased – upgrade
resource-use
in energy infrastructure
efficiency efficiency andand
net GHG emissions annually retrofitgreater
industriesadoptionto make
of clean them andsustainable,
environmentally
projected lifetime energy or fuel savings with increased resource-use efficiency and
69,797
sound technologies and industrial processes,
2 greater with all countries
adoption takingand
of clean action in accordance
environmentally
15,265,288
SDG target
sound with their
7.3respective
technologies – doubleandcapabilities
the globalprocesses,
industrial rate of
USD
15,265,288 tCO
SDGalltarget
improvement
with countries9.4 –taking
upgrade
in energy infrastructure
efficiency
action in accordance and
retrofit
SDGtheir industries
target 9.4 –to make
upgrade them sustainable,
infrastructure and
eq.
projected lifetime energy or fuel savings with
with
retrofit
respective
increased
industries
capabilities
resource-use
to make them efficiency and
sustainable,
Notes:
Notes:
tCO eq.
2
2
greater
with increasedadoption of clean andefficiency
resource-use environmentally
and
sound
greater technologies and industrial processes,
net GHG emissions reduced annually that adoption of clean and disbursing
environmentally
15,265,288 tCO eq.

/5 The projected impact highlights have been aggregated where possible and represent a subset of results from projects were approved and began in FY18-
with that
all technologies
countries taking
and action in accordance
FY19 (fiscal years include July 1 - June 30). Projects are added to the report once disbursements have begun. Not all sound and
in theindustrial processes,
/5 The projected impact highlights have been aggregated where possible and represent a subset of results from projects were approved began disbursing in FY18-
FY19 (fiscal years include July 1 - June 30). Projects are added to the report once disbursements have begun. Not all SDG target 9.4 – taking
upgrade infrastructure and
projects are represented results presented above
tes:
with their
all
projects are respective
countries
represented capabilities
in action
the results inpresented
accordanceabove
and therefore not all regions or sectors may be represented in the highlights. See “Projects by Sector” for target project
and therefore not all regions or sectors may be represented in the highlights. See “Projects by Sector” for target projectretrofit
with
level
level industries
their
results
results
for theto make
set of 84
for the setcapabilities
respective them sustainable,
completed projects. For
of 84 completed projects. For
The projected impact highlights indicators
have been used above see
aggregated Worldpossible
where Bank Corporate ScorecardaTier
and represent 2 indicator
subset 2 definitions:
of results with increased resource-use
definitions of the indicators used above see World Bank Corporate Scorecard Tier 2 indicator definitions: http://pubdocs.worldbank.org/en/404971580918297358/World-Bank-
definitions of the efficiencyinand
http://pubdocs.worldbank.org/en/404971580918297358/World-Bank-
from projects that were approved and began disbursing FY18-
Group-Scorecard-2019-definitions.pdf greater adoption of clean and environmentally
July 1 - June 30).net GHGare
Group-Scorecard-2019-definitions.pdf
19 (fiscal years include Projects emissions
added to the reduced annually
report once disbursements have begun. Not all projectssound are represented in the
technologies and industrial results presented above
processes,
d therefore not all regions or sectors may be represented in the highlights. See “Projects by Sector” for target project level results
with for the settaking
all countries of 84 completed projects. For
otes:
finitions of the indicators used above see World Bank Corporate Scorecard Tier 2 indicator definitions: http://pubdocs.worldbank.org/en/404971580918297358/World-Bank-
with their respective capabilities
Projected
rojected
Projected
10
4
Impact
Impact

Highlights
Highlights
5
5
5

10 WORLD BANK BONDS FOR SUSTAINABLE DEVELOPMENT | IMPACT REPORT 2019 5
for active
for active
for projects
active projects
projects
Projected Impact Highlights for active
forfor
active projects
5
activeprojects
projects
SUSTAINABLE
SUSTAINABLE&& INCLUSIVE
&INCLUSIVE GROWTH
INCLUSIVEGROWTH
GROWTH
SUSTAINABLE 5
SUSTAINABLE & INCLUSIVE
SUSTAINABLE GROWTHGROWTH
& INCLUSIVE for active projects
1,876,951Farmers
1,876,951
1,876,951 Farmers
SUSTAINABLE & INCLUSIVE GROWTH for active projects
SDG target 2.4 – ensure sustainable
1,876,951
SDG target2.4 2.4––systems
ensuresustainable
sustainable
1,876,951 FarmersFarmers
Farmers
Farmers
adopting improved agricultural technology in Angola, Brazil,
SDG
foodtarget
food
SDG
food
production
production
target
production
resilient
SDG target
ensure
systems
2.4 –2.4
ensure
systems
agricultural –
and
sustainable
and
practices
ensure
implement
andimplement
implement
that
sustainableincrease
adoptingimproved
improvedagricultural
agriculturaltechnology
technologyininAngola,
Angola,Brazil,
Brazil, resilient
SDG
food targetagricultural
production
resilient 2.4 –
agricultural
productivity practices
ensure
andsystems
practices
production, that
sustainable
andand increase
implement
that
that increase
help
adopting food production systems implement
1,876,951 Farmers
India, andimproved
SUSTAINABLE Pakistan productivity
food production and production,
systems and that help
implement
adoptingand&
India,and
India, INCLUSIVE
Pakistan
adopting
Pakistan GROWTH
agricultural
improved technology in Angola,inBrazil,
agricultural technology Angola, Brazil, resilient
maintain
maintain
resilient
agricultural
productivity and
ecosystems,
resilient
ecosystems,
agricultural
productivity and
practices
production,
agriculturalthat
that
practices
production,
that
that
strengthen
practices increase
help
that
strengthen
thatthat
increase
increase
help
adopting maintain ecosystems, thatto strengthen
andimproved
India, agricultural
and Pakistan technology in Angola, Brazil,
productivity
capacity for and–
adaptationproduction,
climate that help
change,
1,178,400
SDG target 2.4 ensure sustainable
India, Pakistan capacity
productivity
maintain
capacity for
maintain
for adaptation
and production,
ecosystems,
ecosystems,
adaptation thatto climate
that change,
thatimplement
help
strengthen
strengthen
to climate change,
1,178,400
extremefood weather,
production drought,
systems flooding
and and
India, and Pakistan extreme weather, drought, flooding and
1,876,951
othercapacity for adaptation to climate change,
1,178,400
maintain
capacity
extreme ecosystems,
for adaptation
weather,
resilient that
drought,
agricultural to strengthen
climate
flooding
practices change,
that and
increase
1,178,400
adopting improved agricultural technology in Angola, Brazil, disasters, and that progressively
Hectares other
capacityextreme
disasters,weather,
productivity
for and
and
adaptation drought,
that
production,
to flooding
progressively
climate that and
help
change,
1,178,400 Hectares
extreme
other weather,
disasters, drought,
and that flooding
progressively and
Hectares
Hectares India, and Pakistan
Farmers
Hectares
improve
improve
extreme
other
improve
other
SDG
land
maintain
weather,
disasters,
land
and
disasters,
target
land and
and 2.4
and
soil
and
–
soil
ecosystems,
that
soil
quality
that
ensure
quality
drought, thatprogressively
sustainable
strengthen
flooding
progressively
quality and
Hectares
provided with new/improved irrigation and drainage in improve
food land and
production
capacity soil
systems
for adaptation quality
toand implement
climate change,
1,178,400
providedwith
withnew/improved
new/improved irrigation and drainage other disasters,
improve and
soilthat
land agricultural
and progressively
quality
provided
Angola, India, adopting
provided
Indonesia, withandirrigation
improved and
agricultural
new/improved
Tunisia drainage
technology
irrigation ininAngola,inBrazil,
and in
drainage improve
resilient
extreme
land
weather,
andandsoil
practices
drought,
quality
that increase
flooding and
provided with new/improved irrigation and drainage in productivity
other disasters, production,
and that help
that progressively
Angola,
Angola, India,
India, Indonesia,
India,
Angola,and
Indonesia, and
PakistanTunisia
and irrigation
India, Tunisia
Indonesia, and Hectares
Tunisia maintain ecosystems,
improve land and soil that strengthen
quality
providedIndia,
Angola, with Indonesia,
new/improved and Tunisia and drainage in capacity for adaptation to climate change,
1,178,400
2,947,173
Angola, India, Indonesia, and Tunisia SDG extreme
targets 4.3,4.3,
weather,4.44.4 – ensure
drought, equal
flooding
equaland
2,947,173
SDG SDG
targetstargets4.3, 4.4– – ensure
–ensure
ensure equal
2,947,173
Angola, India, Indonesia, and Tunisia SDG
access targets
other
access 4.3,
for all 4.4
fordisasters,
all womenwomenandandthat
and men equal
toto
progressively
men
Hectares access for all women and men to
2,947,173
SDG
access targets
affordable for all
improve 4.3,
women
quality
land 4.4
and –technical,
andensure
technical,
soil men
quality equal
to
vocational and
Students
Students
affordable
affordable quality
quality technical, vocational
vocational and
and
2,947,173
SDG
access targets
for all 4.3,
women 4.4 –
andensure
–men
equal
to
Students
Students
provided with new/improved irrigation and drainage in affordable
tertiary tertiaryquality
education, technical,
education, including
includingvocational
equal and
university;
university;
2,947,173
tertiary SDG targets
education, 4.3, 4.4
including ensure
university;
access
affordable
tertiary forsubstantially
allfor
education,
and substantially
and women
quality andand
all technical,
including
increase
increase men tonumber
vocational
university;
the
thenumber and
Students
benefitting from
benefittingfrom
from
directIndia,
benefitting
Angola,
direct
interventions
from
Indonesia,
interventions
to enhance
direct interventions
and
toenhance
enhance
learninglearning
Tunisiato enhance in
learninginin
in and
tertiary
and
of youth
access
substantially
affordableof quality
education,
substantially
youth
and and
women
increase
technical,
including
increase
adults
adults who who the
men
the
have
have
to
number
vocational
relevantand
university;
number
relevant
benefitting
benefitting
Braziland
Students
Brazil and from
andChina
China
direct
Brazil interventions
Students
and China to learning
Chinadirect interventions to enhance learning in of youth
tertiary
and
of youth
skills,
affordable
and
skills,
education,
substantially
quality
adults
including
andeducation,
including
tertiary
technical,
who
technical
including
increase
adults who
technical have
the
have
and
includingand
vocational
relevant
vocational
university;
number
relevant
vocational
university;
and
Brazil skills, including

skills, for technical
employment, and
decent vocational
jobs and
74,800
2,947,173
and
of substantially
youth
skills,
skills, SDG
and
forandtargets
including adultsincrease
substantially4.3, 4.4
whodecent
technical
employment, –
increase
have
andthevocational
ensure
thenumber
equal
number
relevant
jobs and
74,800
benefitting
Brazil frombenefitting
and China direct interventions to enhance
from direct interventions to learning in
enhance learning in entrepreneurship
ofskills,
youth
skills, foryouth
access
of employment,
and
including
for for all adults
and
adults women
technical
employment, who decent
and
who
have
and
decent men
have jobs and
to and
relevant
relevant
vocational
jobs
74,800
Brazil and China entrepreneurship
Brazil and China Teachers affordable
skills,
entrepreneurship quality
including technical,
technical and vocational
vocationaland
Students skills, including
for technical
employment,
entrepreneurship and
decent vocational
jobs and
74,800 Teachers tertiary

skills, foreducation,
employment, including
decent university;
jobs and
74,800
skills, for employment, decent jobs and
74,800
entrepreneurship
Teachers
Teachers recruited orfrom
benefitting trained in China,
direct Jordan,toand
interventions Tunisialearning in
enhance and
entrepreneurship
substantially increase
entrepreneurship
of youth and adults who have relevant
the number
TeachersTeachers
recruited or trained
recruitedor
in China,
Brazil and
ortrained
trained China Jordan,
ininChina,
China,
and Tunisia
Jordan,and
andTunisia
Tunisia SDG target
skills, 8.5,technical
including 8.10 – achieve full and
and vocational
recruited Teachers Jordan, productive
SDG skills, 8.5,employment
for employment, and decent
decent jobs and work
74,800
605
recruited or trained in China,
recruited Jordan,
or trained andJordan,
in China, Tunisiaand Tunisia target
for all women
entrepreneurship 8.10
and – men,achieve fullfor
including andyoung
SDG
SDG target
target 8.5,8.10
8.5, 8.10 –– achieve
achieve fulland
full and
recruited or trained in China, Jordan, and Tunisia productive employment anddisabilities,
decent work
605
people
productive
SDG and
target persons
employment
8.5, 8.10 with
– anddecent
decent
achieve full work
and
MediumTeachers
and Small Enterprises SDG target
productive
for all women 8.5, 8.10
employment
and men,– achieve
and
including full and
forwork
young
605
and equal pay
productive for work of
employment equal
and decentvalue;
work
for alltarget
women and men, including for young
605
SDG
productive
for all women 8.5,
and 8.10
all employment men, –with
achieve
and fullfor
ofdecent
including and
work
young
605
people for and
Strengthen persons
women the andcapacity
men, disabilities,
domestic
including for young
recruited orfrom
benefitting trained in China,
financial Jordan,
services and Tunisia
in Belarus, Republic of Congo, for
people
productive
allequal
people and
women
and persons
employment
and
persons men, with
with and disabilities,
includingdecent
disabilities,for work
young
6052,761,000
and financial pay for work of equal
people and persons with disabilities, to
institutions to encourage value;
and
MediumMedium
Medium andSmall
and Small Enterprises
andEnterprises
Small Enterprises
Jamaica, and Turkey and
for
and all
people equal
women
equal
SDG
andand pay
pay
target
equal for
and
persons
for work
men,
work with
Strengthen the capacity of domestic and
expand access8.5,
pay to
for 8.10 of
workof
– equal
including value;
disabilities,
banking,equal
achieve
of equal for
value;
insurance
full young
and
value;
benefitting from financial services in Belarus, Republic of Congo, Strengthen
people
and
Strengthenfinancial
equal and pay
productive
Strengthen
financial the
the capacity
services
persons
for work
capacity
employment
the
institutions withof
capacity
to ofof
forencourage
all domestic
disabilities,
equal
domestic
and
of value;
decent
domestic andworkto
605
benefitting from financial services in Belarus, Republic of Congo,
benefitting
benefitting
Jamaica,and
from
Jamaica, and
from
financial services in Belarus, Republic of Congo,
benefitting
Turkey
financial
andTurkey
Turkey
from financial
services
Jamaica, and Turkey in
services
Belarus,
in Belarus,
Republic
Republic
of Congo,
of Congo, financial
and
financial
expand
expand
for
equal
Strengthen institutions
all
financialwomen
pay for
institutions
access
access
people
expand and
and
towork
theinstitutions
capacity
accessto
totomen,
banking,
banking,
persons
to
encourage
of
to
with
banking,
including
equal
ofencourage
domestic
encourage insurance
insurance
and
for
value;
and
disabilities,
insurance
toto
andyoung
to
and
and
and
Jamaica, Strengthen
financial
expand
financial access the
institutions
services capacity
to to
banking,
for of domestic
encourageinsurance and
all all of equal value; to
and
benefitting Medium and Small
from financial Enterprises
Farmers services in Belarus, Republic of Congo, and equal
financial
financialaccess pay
services
services for work
for
fortoallall
2,761,000
Jamaica, and Turkey expand
financial institutions
services to banking,
for encourageinsurance and to
domestic and
2,761,000
Strengthen the capacity of
2,761,000
Jamaica, and Turkey
benefitting
reached from
with financial assets
agricultural services
or in Belarus,inRepublic
services of Congo, financial
Angola, China, expand access
services
financial toforbanking,
institutions insurance
all to encourage andandto
2,761,000
financial services for–toall
Farmers
Jamaica,
Cote and Turkey
Farmers
D’Ivoire, India, Montenegro, Pakistan, and Tunisia expand
SDG access
target 9.1 banking,quality,
develop insurance and
reliable,
2,761,000
Farmers
Farmers financial
sustainable services for all infrastructure,
and resilient
2,761,000 Farmers
reached withassets
reached with agricultural agricultural assets orin
or services services
Angola, in Angola,
China, China, including regional and trans- border
reachedwith
withagricultural
agricultural assets orservices
servicesininAngola,
Angola, China, infrastructure, to– support economic
reached Farmers assets or China,
1,500,000Farmers
Cote D’Ivoire, India, Montenegro, Pakistan, and Tunisia SDG
SDG development
target target 9.1develop
9.1 –and develop quality,reliable,
reliable,
Cote D’Ivoire, India, Montenegro, Pakistan, and TunisiaChina, and humanquality,well-being, with a
reached
Cote
Cote with
D’Ivoire,
D’Ivoire, agricultural
India,
India, assets
Montenegro,
Montenegro, or services
Pakistan,
Pakistan, in
and
and Angola,
Tunisia
Tunisia
SDG
SDG target9.1
sustainable
target
sustainable
focus on
9.1––resilient
and develop
develop
affordable
resilient
and
quality,
quality,
infrastructure,
equitable
reliable,
infrastructure,
reliable,
access
reached with agricultural including regional and infrastructure,
trans- border
Cote D’Ivoire, India, withassets
People
Montenegro,
reached orPakistan,
agriculturalservices inservices
and
assets or Angola,
TunisiainChina,
Angola, China, sustainable
SDG target
sustainable
including
for all and
9.1
and –
regional
infrastructure,
resilient
develop
resilient
and
toand quality,
infrastructure,
trans-
support border
economic reliable,
1,500,000
including
SDG target
sustainable
including regional
9.1 to
and
regional –resilient
develop
and trans-
trans- quality,border
infrastructure,
border reliable,
Cote D’Ivoire, India, Montenegro, Pakistan, and Tunisia infrastructure, support economic
1,500,000
Coteenhanced
with D’Ivoire, India,
accessMontenegro, Pakistan,
to transportation and Tunisia
services in India SDG target
development 9.1 and– develop
human quality,
well-being, reliable,
with a
infrastructure,
sustainable
including
infrastructure,
development and
regionaltotoresilient
and support
and
support
human trans- economic
infrastructure,
economicborder access
well-being, with a
1,500,000
sustainable
focus on and
affordable resilient
and infrastructure,
equitable
People development
including
development regional
infrastructure,
focusincluding
for
onall and
to
and
affordable human
and
support
human
regional and trans-
and well-being,
economic border
well-being,
trans-
equitable border with aa
with
access
1,500,000 People focus onaffordable

affordable
for allinfrastructure,
infrastructure,
development
focus on toand
to support
and human andequitable
support equitable
economic
economic
well-being, access
with a
access
5,000,000
1,500,000
1,500,000 People Hectares
People
People forall
focus
for allon
development
development
SDG and14.5
affordable
target and
human –human
and equitable
conserve well-being,
well-being, at least with aa
with
access
10
withenhanced
with PeoplePeople
enhancedaccess
accessto totransportation
transportationservices
servicesininIndia
India for all focus
focus on cent
for all
on of
affordable
per affordable coastal and andmarine
and equitable
equitable access
access
areas,
5,000,000 Hectares
for all consistent with national and international
with enhanced with
access
of to transportation
sustainable
enhanced use services
marine-protected
access inservices
areas
to transportation India
in Africa
in India law
SDGand based
target 14.5on– the best available
conserve at least 10
5,000,000
scientific
per cent of information
coastal and marine areas,
5,000,000
consistent with national
SDG target 14.5 – conserve at least 10 and international
5,000,000
5,000,000
SDG target
law and 14.5
based ––conserve
conserve
on themarine
bestat at least10
available 10
345,595
of sustainable use marine-protected areas in Africa SDG target
per cent of 14.5
coastal and least
areas,
Hectares
5,000,000
per cent
SDG oftarget
coastal14.5 and marine
– conserve areas,
at least1010
Hectares
Hectares
Hectares
SDG
per scientific
target
cent
consistent
per
consistent
SDG
of
targetcent
information
14.5
coastal
with
of
with
– conserve
coastal
and
national
national
14.5with– conserve
marine
and and at
marine
least
areas,
international
andavailable areas,
international
at least 10
Hectares
Hectares
of sustainable use marine-protected areas in Africa
ofsustainable
sustainableuse
use marine-protected areasininAfrica
Africa
per
lawcent
consistent
law
and of coastal
with
based
consistent
and based on
and
national
on the
national
the
marine
and
best
best and areas,
international
international
available
345,595 Hectares
per cent of coastal and marine areas,
of of Hectares
marine-protected
of sustainable
of sustainable use forest
areas
use marine-protected
reforested,
marine-protected rehabilitated areas in under
areas inorAfrica
brought Africa consistent
law and
scientific
SDG
law
scientific
consistent
law and
scientific
basedwith national
on
information
andtarget
based
information
based
15.2the
withinformation
national
on
information
implementation
scientific the
on– the
of best
and
best
promote
best international
available
andavailable
sustainable
the
available
international
management plans in China, India,
of sustainable use marine-protected areas in Africa and Mexico law and
scientific based
information
management on of the all best
typesavailable
of forests, halt
345,595
deforestation,
scientific
SDGinformation restore degraded the forests
222,510
target 15.2 – promote
345,595
345,595
of forest reforested, rehabilitated or brought under and substantiallyofincrease
implementation sustainable afforestation
345,595
and reforestation of allglobally
Hectares
management plans in China, India, and Mexico
Hectares
management types of forests, halt
345,595
Hectares
Hectares deforestation, restore degraded forests
222,510
SDG SDGtarget 15.215.2
target – promote promotethe
–increase the
offorest Hectares
land rehabilitated
of forest
forestreforested,
reforested,
area
reforested,
rehabilitated
or brought
under sustainable
rehabilitated under
management
broughtorunder
orbrought
practices in
brought under
under
SDG
SDG
and
target
substantially
target15.2
implementation 15.2of
implementation
and reforestation ––promote
promote
sustainable
ofglobally
sustainable the
afforestation
the
of
management
of Hectares
plans
forest reforested,
management plansin
rehabilitated
Hectares
India andin
management Mexico
China,
rehabilitated
inChina,
inor
India,
plans
China,India,
and
China,
orand
India, and
Mexico
India, and Mexico
brought under
Mexico
implementation
SDG target
implementation
management
management
management
15.2ofof
ofof
of
–all
of sustainable
promote
sustainable
types
all types
–allsustainable
types
ofthe
offorests,
forests,halt
ofofforests,
forests,
halt
halt
management plans Mexico SDG target
SDG target
implementation
management 15.2
deforestation,
deforestation, of15.2
all
restore promote
– promote
types
restore the
degraded
degraded the forests
halt
forests
222,510
222,510
management plans inrehabilitated
of land area under
China, India,orand
brought
sustainable
Mexico under practices in
management deforestation,
implementation
and
implementation
management
deforestation, restore
substantially
of of of
allincrease
restore types degraded
sustainable
increase
sustainable forests
afforestation
of afforestation
degraded forests, halt
forests
and substantially
222,510 Hectares
management plans India and MexicoIndia, and Mexico
in China, and management
substantially
and
management
deforestation,reforestation
of all
restoreof allglobally
increase
types typesof
degraded of forests,
afforestation
forests, halt
halt
forests
and
andsubstantially
reforestation increase
globally afforestation
222,510
Hectares
Hectares and deforestation,
reforestation
SDG
deforestation,
and target
substantially
reforestation 15.2
restore
restore
globally
increase–
globally
degraded
promote
degraded the
afforestation
forests
forests
222,510 Hectares
Hectares
of land area under
of land area under sustainable management practices in
sustainable
and substantiallyofincrease
implementation
substantially
and reforestation
and reforestation
management
increase
globally sustainable
of allglobally
afforestation
afforestation
types of forests, halt
ofland
landarea India and
areaunder
under Mexico management
sustainable
practices in
managementpractices
practicesinin and reforestation
deforestation,globallyrestore degraded forests
of
India
of land Hectares
and Mexico
area
Indiaand under
andMexico
Mexico
sustainable
sustainable
management
management practices in
SDG target 15.2 –increase
and substantially promoteafforestation
the
India
of land area under sustainable management practices in SDG implementation
and
targetreforestation
15.2 – promoteofglobally
sustainable the
India and Mexico SDG
SDG target15.2
management
target
implementation 15.2of ––ofpromote
promote
all types of
sustainable the
the forests, halt
India and Mexico deforestation,
implementation of restore
sustainable degraded forests
SDG target
implementation
management
and 15.2ofof–
substantially promote
allsustainable
types
increase ofthe forests,
afforestationhalt
management
SDG target
implementation
management
deforestation, ofof
15.2 of–allsustainable
all
restore types
promote
types ofofforests,
degraded forests,
the halt
halt
forests
deforestation,
implementation
management
deforestation, ofrestore
of degraded
sustainable
allincrease
types
restore
and substantially forests
of afforestation
forests,
degraded halt
forests
and substantially
management
deforestation,
and of allincrease
restore
andsubstantially
reforestation types afforestation
ofafforestation
forests,
degraded
increase
globally halt
forests
andsubstantially
and reforestation
deforestation,
reforestation globally
restore degraded
increase
globally forests
afforestation
substantially increase
and reforestation globally afforestation
26
18 WORLD BANK BONDS
FOR SUSTAINABLE
IMPACTREPORT
REPORT2019
2019
FEATURED PROJECT:
Reducing the Gender Gap in

Bogota's Transport Sector
Women constitute only 14.5% of employees in Bogota’s transportation sector, so
the Support to Bogota’s Metro Line 1 Project ($70m) project embeds mechanisms
to hire more women, with a target least of at 20% of metro employees. The project
also incorporates a reporting mechanism for victims of sexual harassment and an
action protocol for metro police and staff to intervene.
IBRD Commitment Amount: US$ 70 million

Total Project Cost: US$ 4400.00 million
Approval Date: August 2, 2018
Project Status: Active (closing December 31, 2023)
Sector: Urban Transportation, Public Administration
The transportation sector is a key area of engagement for the Bank in reducing
gaps in jobs and mobility between men and women. This project carries “gender”
tag because it includes analysis to identify project-relevant gaps between males
and females, identifies specific action(s) to address the gender gaps identified
and/or to improve women or men's empowerment, and include indicators in the
project’s results framework to monitor outcomes from actions.
Photo credit: © Dominic Chavez / World Bank

Photo credit: © Dominic Chavez/ World Bank
4
4
WORLD BANK BONDS
FOR SUSTAINABLE
IMPACTREPORT
REPORT2019
2019 27
19
FEATURED PROJECT:
Blue Economy: Reducing

Marine Pollution in Waterways
in Romania
Romania is home to one-third of Europe’s farms. A majority of these farms keep animals
without adequate storage facilities for animal waste collection. This contributes to pollution
of groundwater with nitrates and bacteria, posing threats to the rural population that uses the
groundwater for drinking. Romania has committed to comply with the EU Nitrates Directive
requirements by reducing nutrient discharges to water bodies leading to the Danube River
and Black Sea through integrated land and water management. Protecting the Black Sea
from harmful pollution will result in a more productive, healthy, resilient, and sustainable
blue economy.
IBRD Commitment Amount: US$52.39 million

Total Project Cost: US$54.58 million
Approval Date: March 28, 2016
Project Status: Active (closing March 31, 2022)
Sector: Sanitation, Waste Management, Other Agriculture (Fishing/Forestry)
Over 100 communes have benefited from support under the first phase of the Integrated
Nutrient Pollution Control Project, 11 sewerage systems and communal wastewater
treatment plants were built, seedlings were planted on 182 hectares in 57 communities, and
laboratory equipment were secured for water quality testing; a first Romanian pilot plant
for biogas production from manure was also built. Over the past decade, the water quality
and ecosystem of the Danube River and Black Sea basin have improved, benefiting marine
and coastal ecosystems. Nitrogen and phosphorus emissions have also decreased by 20
percent and 50 percent respectively over the years.
Photo credit: © Victor Neagu / World Bank

4
28 WORLDDEVELOPMENT
WORLD BANK BONDS FOR SUSTAINABLE BANK BONDS FOR SUSTAINABLE
| IMPACT REPORTDEVELOPMENT
2019 | IMPACT REPORT 2019 19
FEATURED PROJECT:
FEATURED PROJECT:
BlueProviding
Economy: Reducing
Affordable
Clean
Marine EnergyininWaterways
Pollution Egypt
in Romania Reliant on fossil fuels for electricity, with an underdeveloped market
for low-cost renewable energy, Egypt lacked clear business models
and practices for reliable and more affordable energy. Fuel subsidies
Romaniaexacerbated the problem
is home to one-third at seven
of Europe’s percent
farms. of gross
A majority domestic
of these farms keep animals
product—more than government spending on social protection,
without adequate storage facilities for animal waste collection. This contributes to pollution
health and
of groundwater education—and
with nitrates were
and bacteria, not threats
posing targeted at rural
to the the population
poorest. that uses the
groundwater for drinking. Romania has committed to comply with theenergy
Underinvestment in energy also moved Egypt from an EU Nitrates Directive
exporter
requirements by to an energy
reducing importer.
nutrient Severetopower
discharges water shortages from to
bodies leading 2012
the Danube River
to 2014 contributed to a sharp economic downturn.
and Black Sea through integrated land and water management. Protecting the Black Sea
from harmful pollution will result in a more productive, healthy, resilient, and sustainable
blue economy.

Approval Date: March 28, 2016
Project Status: Active (closing March 31, 2022)
Sector: Sanitation, Waste Management, Other Agriculture (Fishing/Forestry)
Over 100 communes have benefited from support under the first phase of the Integrated
Nutrient Pollution Control Project, 11 sewerage systems and communal wastewater
treatment plants were built, seedlings were planted on 182 hectares in 57 communities, and
laboratory equipment were secured for water quality testing; a first Romanian pilot plant
for biogas production from manure was also built. Over the past decade, the water quality
and ecosystem of the Danube River and Black Sea basin have improved, benefiting marine
and coastal ecosystems. Nitrogen and phosphorus emissions have also decreased by 20
percent and 50 percent respectively over the years.
Photo credit: © Dominic Chavez / World Bank Photo credit: © Victor Neagu / World Bank

Approval Date: December 5, 2017
Project Status: Completed Sector: Energy & Extractives, Other Industry, Trade, and Services
The Fiscal Consolidation, Sustainable Energy & Competitiveness Programmatic

Development Policy Financing series helped reduce energy subsidies as a percentage
of GDP to 2.0% in FY2019, increase revenue collection, and enhance the business
environment through a modern investment law and easing industrial license requirements.
The World Bank Group provided technical and financial support that strengthened
investor confidence and mobilized US$2 billion of private investment in renewable
energy in line with its Maximizing Finance for Development approach to leverage
private sector finance to bolster scarce public resources.
4
Sustainable
ANNEX 1: Development
Sustainable
Bond Development
Process
Bond Process
World Bank Sustainable Development Bonds are consistent with the Sustainability Bond Guidelines6,
coordinated by the International Capital Market Association.
USE OF PROCEEDS The net proceeds from PROCESS FOR EVALUATION & SELECTION
the sale of bonds are used by IBRD to support the OF ELIGIBLE OPERATIONS All projects
financing of sustainable development projects and supported by the World Bank go through a rigorous
programs in the World Bank’s member review and approval process to ensure that they align
countries (without being committed or earmarked with the World Bank’s mission and meet countries’
for lending to, or financing of, particular projects development priorities. The process includes: (i)
or programs; the returns on the bonds are not screening to identify potential environmental or
linked to the performance of any particular social impacts and designing policies and concrete
project or program). Prior to use, the net actions to mitigate any such impacts; (ii) approval
proceeds will be invested by IBRD’s Treasury in by the Board of Executive Directors; and (iii) regular
accordance with IBRD’s liquid asset monitoring and evaluation. See Annex 2:
management investment policies. IBRD’s World Bank Project Cycle, for more detailed
administrative and operating expenses are information on this process.
covered entirely by IBRD's various sources of
revenue (net income); these consist primarily of MANAGEMENT OF PROCESS The proceeds
interest margin, equity contribution, and of all World Bank bonds are invested in accordance
investment income (as more fully described in with the World Bank’s conservative liquidity policy
the Information Statement). until they are used to support the financing of
sustainable development projects and programs.
IBRD’s financing is made available solely to middle- Disbursement requests for eligible operations
income and creditworthy lower-income member take place in accordance with IBRD’s established
countries who are working in partnership with IBRD policies and procedures. Disbursements are often
to eliminate extreme poverty and boost made over a period of several years, depending on
shared prosperity, so that they can achieve when each project/program milestone is reached.
equitable and sustainable economic growth in
their national economies and find sustainable REPORTING The World Bank is committed to
solutions to pressing regional and global transparent reporting of its financing to support
economic and environmental problems. Projects sustainable development projects and programs
and programs supported by IBRD are designed in member countries on an annual basis. This
to achieve a positive social impact and impact report follows market best practice and
undergo a rigorous review and internal describes the operations supported by the
approval process aimed at safeguarding financing generated b y World B ank b onds issued
equitable and sustainable economic growth. IBRD during the previous fiscal year. This report provides
integrates the following five global themes into its information on allocation of bond proceeds and
lending activities helping its borrowing members aggregates results for closed projects on a portfolio
create sustainable development solutions: basis across a range of measurable outcomes. The
climate change; gender; infrastructure, public- report also outlines individual project details such
private partnerships and guarantees; as amount of financing, project o bjectives, and
knowledge management, and fragility, conflict and development indicators for closed projects.
violence.
/6 https://www.icmagroup.org/green-social-andsustainability-bonds/sustainability-bond-guidelines-sbg/
Notes:
HUMAN CAPITAL
4
4,421,791 People
4
benefiting from social safety net programs
Determining
Determining Project Eligibility
Project Eligibility
158,471 People
A
provided with essential health, nutrition, and population services
ll World Bank operations are designed to
Worldachieve
Bank Sustainable Development Bonds
positive environmental are
and social
consistent withand
the Sustainability Bond Guidelines
with the,
8
TARGET POPULATIONS:
TARGET POPULATIONS
1,274,805
impacts outcomes consistent
coordinated
World by the twin
Bank Group’s International
goals and Capital
the Market
SDGs.
Association.
Operations Allapproved
are World Bank operations
after are designed
an extensive internal People Target Bank
World populations:
projectsWorld Bank
aim to projects aim
protect
provided with access to improved water sources
to achieve
review positivewhich
process, environmental and social
integrates impacts
sustainability and empower vulnerable groups, groups,
to protect and empower vulnerable
including women and girls, the poor, disabled
and outcomes consistent with
andthe World Bank Group’s
2,950,548
policies and environmental social requirements. including women and girls, the poor,
people, and youth and reduce poverty,
twin goals and the SDGs. Operations are approved disabled people, and youth andand reduce
afterisancomplemented
extensive internal review process, which
People
improve living standards,
poverty, improve living
raise
standards,
incomes
and
This by comprehensive project and productivity
provided with access to improved sanitation services in line with the World Bank’s
integrates sustainability
disclosure, policies and environmental
portfolio management and review raise incomesmandate
development and productivity
and mission.in line
and social requirements.
processes that are designed to provide timely with the World Bank’s development
mandate and mission.
1,305,681
feedback to enhance, improve, and, if necessary,
This is complemented by comprehensive project disclosure, portfolio management and review processes
adjust operations to achieve positive impacts in line
that are designed to provide timely feedback to enhance,People improve, and, if necessary, adjust operations to
with desired outcomes.
achieve positive impacts in line with desired
provided outcomes.
with improved urban living conditions
The
Thelist
listbelow
belowprovides
providesexamples
examples of
of projects that meet
projects that meetthe
theeligibility
eligibilitycriteria
criteria
toto
bebe supported
supported by by
thethe World
World
Bank’s Sustainable Development. Such eligible projects and activities include, but are not limited to,
Bank’s Sustainable Development. Such eligible projects and activities include, but are not limited to, those those
which aim to:
which aim to:
Eligible Project Examples:

RESILIENCE
ELIGIBLE PROJECTS
3,330,267
Improve health care, nutrition, and Improve the effectiveness of formal technical
childhood development and vocational training, short-term skills
MWh
development, and apprenticeship programs
of annual
Improve equitable access energy/fuel savings
to education,
raise students’ retention and completion Provide financial, technical and advisory support
1,705,913 tCO eq.

rates, improve learning conditions in for countries that have decided to transition from
schools, train teachers and improve their coal to cleaner sources of energy
foundational skills 2
Help resource-rich developing countries benefit
Advance climate-smart agriculture, improve from the increasing demand for minerals and
agricultural infrastructure and support metals, while ensuring mining is managed to
services, strengthen food value chains, and minimize the environmental and climate footprint
increase market access for smallholder
farmers Address biodiversity conservation or challenges
of pollution and natural resource degradation
Advance food security
Prepare national plans and legislation to protect
Strengthen social security, pension, and the environment and manage disaster risk,
legal systems including pandemics
Improve access for individuals and Contribute to climate mitigation (solar and wind
businesses to affordable financial products installations, new technologies that reduce GHG
and services such as transactions, emissions, rehabilitation of power plants and
payments, savings, credit, and insurance transmission facilities to reduce emissions, clean
transportation, sustainable waste management,
Support and improve access to affordable carbon reduction through reforestation and
housing through regulatory and policy prevention of deforestation) and climate
reform and improving access to finance adaptation (protection against flooding;
improvements in food security, climate-resilient
Create more and higher-quality jobs, and agriculture, sustainable forest management, and
connect disadvantaged people to jobs by prevention of deforestation).
eliminating barriers and building skills
Additional
Additionalexamples
examples of eligible
of eligible
Notes: projects
projectsand activities
and can be
activities canfound at
be found at
/8 https://www.icmagroup.org/green-social-and-
sustainability-bonds/sustainability-bond-guidelines-sbg/ https://www.worldbank.org/en/topic.
https://www.worldbank.org/en/topic
4
A CLOSER LOOK:
Assessing
Assessing and
and
Mitigating
Mitigating Environmental
Environmental
and Social
and Social Risks
Risks
The World
WorldBank
Bankis is
committed to supporting
committed clientclient
to supporting countries in thein
countries development and implementation
the development of projects
and implementation of
projects
that that are environmentally
are environmentally andsustainable
and socially socially sustainable and to enhancing
and to enhancing theofcapacity
the capacity of developing
developing countries’
countries’ environmental
environmental and social frameworks
and social frameworks to assess and to assess
manageandthemanage the environmental
environmental andand
and social risks social risks
impacts
and
of impacts of projects.
projects.
The World
The World Bank
Bank Environmental
Environmental and and Social
Social Framework
Framework (ESF)
(ESF) sets
sets out
out the
the World
World Bank’s
Bank’s commitment
commitment to to
sustainable development, through a World Bank policy and a set of environmental and social standards
sustainable development, through a World Bank policy and a set of environmental and social standards for for
Investment Project
Investment Project Financing
Financingthat
(IPF)are designed
that to support
are designed borrowers’
to support projects,
borrowers’ with thewith
projects, aim of
theending
aim ofextreme
ending
poverty and promoting shared prosperity.
extreme poverty and promoting shared prosperity.
This
This framework
framework comprises:
comprises:
•• A Vision
Visionforfor
Sustainable Development,
Sustainable which which
Development, sets outsets
the World
out Bank’s aspirations
the World Bank’sregarding environmental
aspirations regarding
and social sustainability;
environmentaland social sustainability;
•• The
The World
World Bank
Bank Environmental
Environmentaland andSocial
SocialPolicy
Policyforfor Investment
Investment Project
Project Financing,
Financing, which
which setssets
out out
the
themandatory requirements that apply to the World
mandatory requirements that apply to the World Bank; and Bank; and
• The Environmental and Social Standards, together with their Annexes, which set out the
• The Environmental and that
mandatoryrequirements Social Standards,
apply together
to the borrower andwith their Annexes, which set out the mandatory
projects.
requirements that apply to the borrower and projects.
The World
The World Bank
Bankalsoalsoundertakes
undertakesProgram-for-Results
Program-for-Results(P-for-R)
and Development PolicyPolicy
and Development Financing which(DPF)
Financing havewhich
their
own rigorous environmental and social standards designed specifically for those lending operations
have their own rigorous environmental and social standards designed specifically for those lending operations which
are consistent
which with the
are consistent ESF.
with the ESF.
4
ANNEX 4:
World Bank
Bank Exclusion
Exclusion List
The World Bank does not support the financing of UN Security Council taken under Chapter
operations that involve: VII of the Charter of the United Nations, with
• Alcoholic beverages respect to which the World Bank determines
• Tobacco or tobacco processing machinery that corrupt, fraudulent, collusive, or coercive
• Unworked or worked pearls, precious and practices were engaged in by representatives
semiprecious stones of the member country or other recipient of the
• Jewelry made of gold, silver or platinum group financing made available by the World Bank,
metals (except watches and watch cases) and without the member country (or other such
goldsmiths’ or silversmiths’ wares (including set recipient) having taken timely and appropriate
gems) action satisfactory to the World Bank to
• Gold, non-monetary (excluding gold ores and address such practices when they occur.
concentrates)
• Radioactive and associated materials FOSSIL FUELS:
• Nuclear reactors, and parts thereof; fuel elements The World Bank is not financing coal-fired power
(cartridges), non-irradiated, for nuclear reactors generation and has not financed a new coal-
fired power plant since 2010. The Bank will
OTHER EXCLUDED AREAS INCLUDE: support countries transitioning away from coal
• Goods intended for a military or paramilitary by helping close coal mines and ensure a just
purpose or for luxury consumption transition for affected communities. The World
• Environmentally hazardous goods, whose Bank will no longer finance upstream oil and gas
manufacture, use, or import is prohibited under after 2019, with consideration only in exceptional
the laws of the member country or international circumstances. The Bank will continue to provide
agreements to which the borrower government technical assistance to help countries strengthen
is a party; or any other goods designated as the transparency, governance, institutional capacity,
environmentally hazardous by agreement and regulatory environment of their energy sectors
between the member country and the World Bank. – including in oil and gas.
• Any payment prohibited by a decision of the
Photo credit: © A’Melody Lee / World Bank

Photo credit: © Danilo Pinzon / World Bank
4
4
Project-by-Project Reporting
Projects Completed in FY19 by Sector
Results & Committed & Allocated Amounts for
Results
Projects&Approved
Committedand
& Allocated Amounts
Disbursing in FY18 & FY19
Agriculture, Fishing & Forestry
Education
Energy & Extractives
Financial Sector
Health
Industry, Trade & Services
Information & Communications
Public Administration
Social Protection
Transportation
Water, Sanitation & Waste Management

Results should be read in conjunction with Annex 1, which describes the reporting approach.
Results should be read in conjunction with Annex 2, which describes the reporting approach.
Net proceeds of a specific World Bank bond are not committed or earmarked for lending to, or
financing of, any particular projects or programs, and returns on a specific World Bank bond are
not linked to the performance of any particular project or program.

24 WORLD BANK BONDS
FOR SUSTAINABLE
IMPACTREPORT
REPORT2019
2019

Link to More Project Name (Number | Year/s Loans Approved) Year/ Project Life*
# Country
Information and Description FY Approved (Years)
1 Third South West Indian Ocean Fisheries Governance and Shared Growth FY18 Africa 20
Project (SWIOFish3) (P155642 | FY18): improve management of marine
areas and fisheries in targeted zones and strengthen fisheries value
chains in the Seychelles.
2 Hunan Integrated Management of Agricultural Land Pollution Project FY18 China 26

(P153115 | FY18): demonstrate a risk-based integrated approach
to managing heavy metal pollution in agricultural lands for safety of
agricultural production areas in selected counties.
3 Zhejiang Qiandao Lake and Xin'an River Basin Water Resources and FY18 China 25
Ecological Environment Protection Project (P159870 | FY18): strengthen
integrated pollution and watershed management and increase access to
improved water supply in selected landscapes in support of Zhejiang's
program for the protection of Qiandao Lake and Xin’an River Basin.
4 Guangxi Poverty Reduction Program for Results (P163138 | FY18): FY18 China 26
enhance the impact and efficiency of the Guangxi Consolidated Poverty
Reduction Program (CPRP) in the Targeted Counties.
5 Maharashtra Project on Climate Resilient Agriculture (P160408 | FY18): FY18 India 24

enhance climate-resilience and profitability of smallholder farming systems
in selected districts of Maharashtra.
6 National Agricultural Higher Education Project (P151072 | FY18): support FY18 India 19
Participating Agricultural Universities and ICAR in providing more relevant
and higher quality education to Agricultural University students.
7 Meghalaya Community-led Landscapes Management Project (P157836 FY18 India 15

| FY18): strengthen community-led landscapes management in selected
landscapes in the state of Meghalaya.
4
4
WORLD BANK BONDS
FOR SUSTAINABLE
IMPACTREPORT
REPORT2019
2019 37
25
IBRD IBRD
IBRD Net IBRD Total Total Project
Target Resultsa, Original Disbursement IBRD%d
Commitmentb Disbursement Financing
Commitment FY19c
• 5,000,000 ha of sustainable-use marine protected areas $5,000,000 $5,000,000 $579,683 $1,237,898 $15,292,110 33%
• 44% increase in key demersal indicator species stable or
rebuilding in the Mahé Plateau fisheries
• 40% increase in by-catch landed and sold in the Seychelles
resulting in expansion of value chains, job creation and
increased revenues in the country
• 8,000 ha of agricultural lands managed under the project $100,000,000 $100,000,000 $3,000,000 $3,250,000 $111,940,000 89%
• 218,100 people provided with access to improved water $150,000,000 $150,000,000 $15,000,000 $15,375,000 $293,460,000 51%
sources
• Pesticide consumption reduced by 92 tons per year in project
areas
• 10,470 ha of degraded monoculture plantations converted to
mixed stands with multiple species
• 2,260 ha of denuded forests fully planted with multiple tree and
shrub species
• 3,959 RMB increase in production income of registered poor $400,000,000 $400,000,000 $100,000,000 $101,697,556 $400,000,000 100%
households in targeted counties
• 114,600 registered poor persons with new piped drinking water
connections
• 28 additional targeted counties with newly accredited poverty
countries with poverty reduction leading enterprises
• 100,000 farmers reached with agricultural assets or services,
30,000 of which are female
• 20% increase in water productivity at farm level: from 0.23 to $420,000,000 $420,000,000 $2,624,466 $4,160,100 $599,550,000 70%
0.276 kg per m³
• Annual reduction of 5,502,523 tCO2eq (1.9tCO2eq. per year
per ha)
• 1,320,000 farmers reached with agricultural assets or services
• 1,272,800 farmers adopting improved agricultural technology
• 624,000 ha provided with new/improved irrigation or drainage
services
• Improved availability for 83,900,000 m³ of surface water
storage capacity for agriculture
• 90,000 project beneficiaries, 50% of which are female $82,500,000 $82,500,000 $14,721,788 $14,928,038 $165,000,000 50%
• 18 accredited agricultural universities with revised norms and
standards
• Increase by 51.5% in agricultural universities revenue
generation
• 31,510 ha of land area under sustainable management $48,000,000 $48,000,000 $207,148 $327,148 $60,000,000 80%
practices
• 12,585 ha of forest area brought under management plans
• 400 villages supported with capacity-building package in
Natural Resource Management
• 100,000 ultimate project beneficiaries

# Country
8 Tamil Nadu Irrigated Agriculture Modernization Project (P158522 | FY18): FY18 India 22
enhance productivity and climate resilience of irrigated agriculture,
improve water management, and increase market opportunities for
farmers and agro-entrepreneurs in selected sub-basin areas of Tamil
Nadu.
9 Integrated Irrigation & Agriculture Transformation Project (P160463 | FY19 India 24

FY19): enhance agricultural productivity, profitability and climate resilience
of smallholder farmers in selected districts of Andhra Pradesh.
10 Strategic Irrigation Modernization and Urgent Rehabilitation Project FY18 Indonesia 16

(P157585 | FY18): improve irrigation services and strengthen
accountability of irrigation schemes management in selected areas.
11 Program to Accelerate Agrarian Reform (P160661 | FY19): establish FY19 Indonesia 13

clarity on actual land rights and land use at the village level in the target
areas.
12 Second Institutional Development and Agriculture Strengthening Project FY18 Montenegro 25

(P164424 | FY18): improve the competitiveness of agriculture and
fisheries in Montenegro through enhanced delivery of government support
in alignment with EU accession requirements.
13 Irrigated Agriculture Intensification Project (P160245 | FY18): improve FY18 Tunisia 28

the reliability and efficiency of the irrigation and drainage services and
strengthen market linkages for irrigated products in selected irrigation
schemes.
4
IBRD IBRD
Commitment FY19c
• 160,000 ha provided with improved irrigation or drainage $318,000,000 $318,000,000 $42,978,085 $48,854,391 $455,800,000 70%
services
• 75,000 ha under climate-resilient technologies
• 500,000 project beneficiaries
• 100,000 ha under improved agronomic practices
• 25,100 ha under improved fish production
• 4,741 tank irrigation systems modernized
• 284,000 tCO2eq. avoided annually
• 200,000 farmers reached with agricultural assets or $172,200,000 $172,200,000 $28,000,000 $28,430,500 $245,800,000 70%
services, 50,000 of which are female
• Farmer's income increased by 3,931 INR
• 90,000 ha provided with new/improved irrigation or
drainage services
• 276,000 area provided with new/improved irrigation or $250,000,000 $250,000,000 $5,988,873 $5,988,873 $578,000,000 43%
drainage services
• Reduced net annual average emissions by 439,743 tons
of CO2 eq
• Crop intensity increased by 20%
• 300,000 farmer households provided with improved
irrigation services
• 15.6% increase in the share of project target area land $200,000,000 $200,000,000 $3,744,948 $3,744,948 $240,000,000 83%
parcels mapped in a parcel map (equivalent to 4,300 land
parcels mapped)
• 1,200 project beneficiaries (landholders, concessionaires,
government agencies, community members) in the project
target areas with their land parcels mapped
• 43% increase in the share of target areas with available
and accessible geospatial data
• 14% increase in the share of project target area land
rights registered to the land register
• 20% increase in sales per productive unit supported by $34,890,000 $34,890,000 $2,319,200 $2,407,460 $34,890,000 100%
the project
150 of which are female
• 5,000 days of training provided
• Volume of fish produced within Montenegro quotas
increased by 500 metric tons per year
• 50% reduction in water service disruption $140,000,000 $140,000,000 $3,361,200 $3,681,637 $170,500,000 82%
• 15% increase in irrigation system efficiency
drainage services
200 of which are female
• 3,500 farmers provided with new or improved irrigation
and drainage services
Education
# Country
14 Support to Upper Secondary Reform in Brazil Operation FY18 Brazil 21

(P163868 | FY18): strengthen the capacity of the state
secretariats of education to implement the upper secondary
reform, prioritizing vulnerable schools, and to increase the
Index of Basic Education Development in targeted full-time
upper secondary schools in Brazil’s territory.
15 Strengthening of State Universities in Chile (P163437 | FY18 Chile 12

FY18): improve quality and equity within State Universities
and to strengthen their institutional capacity to address
regional and national development challenges.
16 Guangdong Compulsory Education Project (P154621 | FY18 China 26

FY18): improve learning facilities and teaching quality in
selected public primary and junior secondary schools in
project counties.
17 Supporting Egypt Education Reform Project (P157809 | FY18 Egypt, Arab 35

FY18): improve teaching and learning conditions in public Republic of
schools.
18 Odisha Higher Education Program for Excellence and Equity FY18 India 18
(P160331 | FY18): improve the quality of and students'
equitable access to selected institutions and enhance
governance of the higher education system in Odisha.
4
IBRD IBRD
Commitment FY19c
• 27 States where at least 50 percent of vulnerable $250,000,000 $250,000,000 $43,000,000 $43,625,000 $250,000,000 100%
schools have implemented the New Curriculum
• 18% increase in the Basic Education Development
Index (IDEB) in targeted FTS (Full-time School)
• 27 States where the average absolute gender gap of
enrollment in formative itineraries is less than 5%
• 2,400,000 students benefiting from direct interventions
to enhance learning
• Decrease by 1% in dropout rate of 3rd year vulnerable $50,126,000 $50,126,000 $10,000,000 $10,125,315 $375,126,000 13%
students
• 1,048 Peer reviewed publications at State Universities
• 7 institutions that improve their accreditation level
• 20% of last year students who have received quality
career services
• 22,800 additional teachers trained $120,000,000 $120,000,000 $5,000,000 $5,300,000 $279,400,000 43%
• 532,000 students benefiting from direct interventions to
enhance learning
• 15,200 classrooms with ICT installed
• 50% increase in kindergartens that reach higher quality $500,000,000 $500,000,000 $125,000,000 $126,250,000 $2,000,000,000 25%
standards according to the Quality Assurance System
• 35% increase in teachers demonstrating improved
teaching practices
• First cohort of students graduates from secondary
education under the new GPA based assessment and
certification system
• Education Technology entity established and fully
operational
• 90% of existing classroom spaces refurbished and
equipped
• 15% increase in the number of selected colleges that $119,000,000 $119,000,000 $27,325,746 $39,808,937 $1,724,000,000 7%
have improved their NAAC (National Assessment and
Accreditation Council) grade from the previous cycle of
accreditation
• 10% increase in on-time graduation rate of students in
undergraduate degree programs in selected institutions
• 165,500 students beneficiaries, 83,400 of which are
female
Education
# Country
19 Uttarakhand Workforce Development Project (P154525 FY18 India 17

| FY18): improve the quality and relevance of training at
priority Industrial Training Institutes (ITIs) and to increase the
number of labor-market-relevant workers through short-term
training in Uttarakhand.
20 Education Reform Support Program (P162407 | FY18): FY18 Jordan 35

expand access to early childhood education, and to improve
student assessment and teaching and learning conditions for
Jordanian children and Syrian refugee children.
21 Supporting the economic inclusion of youth (P151169 | FY19 Morocco 25

FY19): increase access to economic opportunities for youth
in the project area.
22 Strengthening Foundations for Learning Project (P162297 | FY18 Tunisia 28

FY18): improve learning conditions in public preschools and
primary schools, and to increase access to public preschool
education in selected districts.
4
IBRD IBRD
Commitment FY19c
• 11% increase in job placement rate among graduates of $74,000,000 $74,000,000 $800,000 $985,000 $92,500,000 80%
priority ITIs within six months of training completion
• 2,035 additional students enrolled in labor market
relevant trades in priority ITIs
• 32,000 of target trainees who obtain certification from a
short term training course
• 64,000 project beneficiaries, 40,000 of which are short-
term training students
• 18 communication and awareness campaigns
conducted
• 24,000 ITI students
• 30,000 Jordanian children and Syrian refugee children $147,700,000 $147,700,000 $738,500 $57,824,550 $200,000,000 74%
enrolled in kindergarten level 2
• 5% point reduction in the dropout rate of Syrian refugees
• 70% of schools with high proportion of Syrian refugees
implemeting the socioemotional learning program
• 400 public and private kindergartens that have
developed and implemented quality improvement plan
• 50,000 K-12 grade teachers trained and certified
• 9,500 beneficiaries of training activities (apprenticeship $55,000,000 $55,000,000 $10,724,670 $10,859,660 $110,100,000 50%
and qualification/retraining) who are inserted after
project intervention, 41% of which are women and 30%
are inhabitants of rural areas
• 1,500 formal enterprises created by project beneficiaries
• 16,000 beneficiaries of youth employment centers
services who are inserted after project intervention
• 4,984 additional children enrolled in public preschools in $100,000,000 $100,000,000 $8,910,899 $9,141,050 $130,000,000 77%
targeted districts
• 2,000 preschool teachers trained on the core
professional development program for early childhood
education
• 3,000 school directors and deputy directors that have
completed the new leadership program
• 250 preschool classrooms built in selected districts
Energy & Extractives

# Country
23 Jharkhand Power System Improvement Project (P162086 FY19 India 25

| FY19): increase the transmission capacity of electricity
network in the state of Jharkhand and strengthen the
institutional capacity of state-owned power transmission
and distribution utilities.
24 Energy Efficiency Scale-up Program (P162849 | FY18 India 19

FY18): scale up energy savings in residential and
public sectors, strengthen Energy Efficiency Services
Limited's institutional capacity, and enhance its access to
commercial financing.
25 Second Equitable Growth & Job Creation Programmatic FY19 Jordan 34

Development Policy Financing (P168130 | FY19):
support Jordan to set foundations to reduce business
costs and improve market accessibility, create more
flexible and integrated labor markets and provide better
and more efficient social assistance, and improve fiscal
sustainability and take more informed decisions regarding
risk.
26 Second Energy Efficiency Project (P165509 | FY18): FY18 Montenegro 15

improve energy efficiency in health sector buildings,
and to develop and demonstrate a sustainable financing
model.
27 National Transmission Modernization Project (P154987 FY18 Pakistan 25

| FY18): increase the capacity and reliability of selected
segments of the national transmission system in Pakistan
and modernize key business processes of the National
Transmission and Dispatch Company.
28 Gas Storage Expansion Project (P162727 | FY18): FY18 Turkey 23

increase the reliability and security of gas supply in
Turkey by expanding underground gas storage capacity
in the country.
4
IBRD
IBRD Original IBRD Net IBRD Total Total Project
Target Resultsa, Disbursement IBRD%d
Commitment Commitmentb Disbursement Financing
FY19c
• 10,200 GWh of electricity wheeled through $310,000,000 $310,000,000 $10,603,384 $11,378,384 $465,200,000 67%
Jharkhand Urja Sancharan Nigam Limited network
for supply to consumers in the State
• 90% increase in consumers serviced through
upgraded commercial system
• 2,400,000 KVA of increased transformation capacity
of the power transmission network in the state under
the project
• 2,000 km of transmission lines constructed
• 25 transmission substations constructed
• 205,500 GWh of projected lifetime energy savings $220,000,000 $220,000,000 $83,959,716 $84,509,716 $1,348,000,000 16%
from LED bulbs, tube lights, energy efficient ceiling
fans and LED street lights sold via Energy Efficiency
Services Limited (EESL) programs
• USD200,000,000 of commercial financing leveraged
by the IBRD guarantee
• Sustainable Development Unit and report on
implementation of updated manual covering all EESL
programs under implementation
• 166,100,000 metric tons of avoided CO2 emissions
associated with projected lifetime savings from
products sold through EESL programs
• 2.5% increase in FDI in services as a percent of $1,450,000,000 $1,450,000,000 $725,000,000 $728,625,000 $1,450,000,000 100%
total investments facilitated by Jordan Investment
Commission
• Guaranteed exports as a percentage of total exports
more than doubled
• 100% of government entities prepare annual
procurement plans at least one month before the
end of the fiscal year
• 3% increase in female labor force participation rate
• 85,000 additional households covered by the
National Aid Fund
• 15,000 households provided with electricity support
benefits
• 3,981 MWh of annual energy savings $7,390,000 $7,390,000 $402,483 $419,982 $8,997,800 82%
• 37,333 tons of CO2 eq. of emissions reduced
annually
• 18 buildings retrofitted annually
• 1,200,000 USD captured energy cost savings
annually
• 220,000 potential patients and 2,000 staff benefiting
• 50% reduction in frequency of forced outages per $425,000,000 $425,000,000 $136,787 $1,199,287 $536,330,000 79%
substation
• Duration of forced outages per substation reduced
by 60% (equivalent to 1,013 minutes)
• 12,516,000 KVA of substation capacity of the system
added
• 2 tons of GHG emissions reduced annually
• 131 km of transmission lines constructed or
rehabilitated
• Reduction of gas supply curtailments due to $600,000,000 $600,000,000 $55,197,917 $56,697,917 $2,735,000,000 22%
available gas storage at the Tuz Golu Expansion
Plant from 1,500,000 m³ to 0 m³
• 67% reduction of spot liquefied natural gas
purchases due to available gas storage at the Tuz
Golu Expansion Plant
• Increased gas storage capacity through the Tuz Golu
Gas Storage Expansion Plant by 4,000,000 m³
• 4,000,000 Turkish gas consumers benefitting from
gas supply
Financial Sector
# Country
29 MSME Access to Finance Project (P152276 | FY18): FY18 Belarus 16

improve access to finance for private MSMEs and
enhance governance and the institutional capacity of the
Development Bank of the Republic of Belarus.
30 Access to Finance for MSMEs (P152307 | FY18): improve FY18 Jamaica 30

access to finance for micro, small, and medium enterprises.
31 Financial Inclusion and Digital Economy Project (P168587 FY19 Morocco 25

| FY19): foster financial inclusion and contribute to
digital transformation for individuals, enterprises, and
entrepreneurs.
32 State Owned Financial Institutions Reform Project FY18 Serbia 15

(P156837 | FY18): improve the performance of Banka
Postanska Stedionica AD Beograd and promote the reform
of development finance institutions and other state-owned
financial institutions.
33 Inclusive Access to Finance (P163225 | FY18): improve FY18 Turkey 29

access to longer-term finance for women-inclusive
enterprises and enterprises in less developed sub-regions
affected by the influx of Syrians under temporary protection.
4
IBRD
FY19c
• Governance and business model of Development $60,000,000 $60,000,000 $7,243,488 $7,243,488 $60,000,000 100%
Bank of the Republic of Belarus (DBRB) strengthened
• 170% increase in DBRB MSME loan portfolio provided
through participating financial institutions
• 150 MSME beneficiaries that obtained credit
• US$56,000,000 of loans disbursed
• 15 SMEs getting access to risk capital through the $15,000,000 $15,000,000 $2,375,205 $2,412,705 $15,000,000 100%
SME Fund
• 1,100 guarantees issued for MSME loans through the
improved Credit Enhancement Facility
• US$10,000,000 of private capital mobilized."
• 0.8% increase in gross loan portfolio for the $700,000,000 $700,000,000 $683,523,643 $685,248,044 $700,000,000 100%
microfinance sector
• Moroccan dirham (MAD) 0.6 billion increase in
cumulative Tamwil El Fellah (agriculture
development financing corporation) loans disbursed
• 75% of payment companies reporting gender-
disaggregated performance data to Central Bank of
Morocco
• 50,000 independent professionals, selfemployed
individuals, and non-salary individuals with health
insurance coverage
• MAD 2 billion of Sukuk certificate issuances (Sharia
compliant bond)
• 3 insurance companies issuing Takaful products
(Sharia compliant insurance)
• 20,000 mobile/"m"-wallets issued
• 2.6% increase in fixed broadband penetration as a
percentage of households
• 3% increase in rural households with Internet
access
• The new electronic portal is operational
• 2 business angel networks that have been certified
by the Central Guarantee Agency
• 30 start-up projects submitted to business angels for
financing
• 60% decrease in Banka Postanska Stedionica gross $50,000,000 $50,000,000 $5,115,793 $5,232,003 $56,000,000 89%
amount of performing credit exposures to medium and
large private sector enterprises compared to end-2016
• 70% reduction in state-owned non-performing loans
compared to end-2016
• Adopted a strategy for development finance
• Increased from 0 to >1 the ratio of the average $400,000,000 $400,000,000 $75,000,000 $76,000,000 $400,000,000 100%
maturity of SME sub-financing under the project, over
the average maturity of the participating financial
institution's SME portfolio not financed under the
project
• Increased from 0 to >1 the ratio of the average
maturity of large enterprise sub-financing under the
project, over the average maturity of the borrower's
large enterprise portfolio not financed under the
project
• 240 SME beneficiaries financed under the project
• 40 large enterprise beneficiaries financed under the
project
Health
Project Name (Number | Year/s Loans
Link to More Year/ Project Life*
# Approved) Country
Information FY Approved (Years)
and Description
34 Health System Performance Strengthening FY18 Angola 30

Project (HSPSP) (P160948 | FY18): increase the
utilization and the quality of health care services
in target provinces and municipalities.
35 Health Service Delivery Network Project FY18 Bolivia 24

(P164453 | FY18): improve access to, and quality
of, health service delivery in selected health
networks.
36 Transforming Egypt's Healthcare System Project FY18 Egypt, Arab Republic 35

(P167000 | FY18): improve the quality of primary of
and secondary health care services, enhance
demand for health and family planning services,
and support the prevention and control of
Hepatitis C.
37 Supporting Primary Health Care Reform FY18 Indonesia 14

(P164277 | FY18): strenghten the performance of
Indonesia’s primary health care system.
38 Primary Health Care System Strengthening FY18 Sri Lanka 33

Project (P163721 | FY18): increase the utilization
and quality of primary health care services, with
an emphasis on detection and management
of non-communicable diseases in high-risk
population groups, in selected areas of the
country.
4
IBRD IBRD
Commitment FY19c
• 558,000 child health consultations in the 13 Child Health $110,000,000 $110,000,000 $12,325,890 $12,600,890 $110,000,000 100%
Expansion municipalities
• 60 health units implementing the minimum package of
maternal and child health services
• 22 health facilities that provide TB diagnosis
• 160,000 people who have received essential health,
nutrition, and population services
• 113,895 female adolescents (12-15) and women (ages
15-49) who had a family planning consultation
• 110,000 children immunized
• 10,000 women and children who have received basic
nutrition services
• 159,000 children receiving first dose of Measles and
Rubella
• 7 network referral centers operational with at least $252,000,000 $252,000,000 $4,000,000 $4,630,000 $300,000,000 84%
60% of the required medical staff and providing health
services
• 75% of health facilities supported in the targeted
networks fulfill the licensing standards
• 20 clinical guidelines updated or developed.
• 35,000,000 people screened for Viral Hepatitis C $530,000,000 $530,000,000 $163,893,167 $165,218,167 $992,500,000 53%
• 7% increase in contraceptive prevalence rate
• 20,000,000 targeted people screened for non-
communicable diseases
• 3,400,000 women and children who have received basic
nutrition services
• Increase by 12% in women delivering at a health care $150,000,000 $150,000,000 $37,500,000 $37,500,000 $93,007,000,000 0%
facility
• 23,375,000 People who have received essential health,
nutrition, and population services
• 600 special health worker teams deployed
• 105,449 women at age 35 and at age 45 years who are $200,000,000 $200,000,000 $24,269,622 $24,769,622 $4,419,000,000 5%
screened for cervical cancer at a network of public health
facilities
• 550 primary medical care institutions that have the
required capabilities for providing comprehensive and
quality care
• Increase by 25% in screened adults with high risk for
non-communicable diseases who are registered and
actively followed-up at primary medical care institutions

# Country
39 Commercial Agriculture Development Project (P159052 | FY18 Angola 30

FY18): increase productivity and market access for selected
beneficiaries in the project areas.
40 First Inclusive Growth Programmatic Development Policy FY19 Argentina 33

Financing (P167889 | FY19): strenghten the foundations
for private sector-led growth, and the social safety net and
enhancing fiscal equity.
41 Paraiba Sustainable Rural Development Project (P147158 FY18 Brazil 18

| FY18): improve access to water, reduce agro-climatic
vulnerability and increase access to markets of Paraiba's
rural inhabitants.
42 Jiangxi Farm Produce Distribution System Development FY18 China 24

Project (P147009 | FY18): improve the distribution systems
of selected farm products in participating counties of Jiangxi.
43 Support to Enterprise Development and Competitiveness FY18 Congo, Republic of 22

Project (P161590|FY18): foster MSME competitiveness in
the targeted sectors and targeted geographic areas of the
Republic of Congo's territory.
4
IBRD
FY19c
• 12% increase in average gross sales by crop/non-crop $130,000,000 $130,000,000 $2,274,264 $2,574,649 $230,000,000 57%
activities of beneficiary farmers and SMEs
• 11,500 farmers reached with agricultural assets or
services
• 5,000 farmers adopting improved agricultural
technology
drainage services
• 175 electricity connections supported by the project
• 8 anti-competitive practices resolved through $500,000,000 $500,000,000 $498,750,000 $500,000,000 $500,000,000 100%
sanctions or corrective measures by the new
competition authority
• 10% increase in intermediate and capital goods
imports, by value, subject to reduced tariffs or
automatic licenses
• 45% increase in commercial companies registered as
simplified corporations
• 59% increase in firms that issue securities that
are using the streamlined multiple issuance pre-
authorization
• 80 integrity plans registered in the government
procurement platforms for goods, services, and public
works
• 5% increase in beneficiaries of social programs that
receive social tariffs
• 6% decrease in sales tax (Ingresos Brutos) in total
provincial own revenue
• 10 social programs included in the Single Window
system
• 20 provinces actively implementing the new Universal
Health Coverage system
• 41,400 people in urban areas provided with access to $50,000,000 $50,000,000 $1,301,202 $1,426,202 $80,000,000 63%
improved water sources
• 64,151 clients who have adopted an improved
agricultural technology promoted by the project,
19,254 of which are women
• Increase by 20% in the average gross value of sales
of producers under productive alliances
• 8,500 producers benefited with productive alliance
subprojects
services, 37,300 of which are female
• 186 farmer cooperatives supported
• 88,600 farmers receiving training
• 8 markets/distribution centers constructed or
rehabilitated and connected to provincial market
information platform
• 12 investment climate reforms implemented $25,000,000 $25,000,000 $2,685,326 $2,742,095 $25,000,000 100%
• 20% of beneficiary firms under the Support to
Enterprise Development grants demonstrating a
sustained increase in annual turnover
• 50% of new firms supported under the Business Plan
Competition that are still operating 24 months after
receiving financial and non-financial assistance
• 100 business plans successfully launched
• 200 MSME receiving technical support and 500
benefiting from private sector initiatives

# Country
44 Cashew Value Chain Competitiveness Project (P158810 FY18 Cote d'Ivoire 30

| FY18): increase cashew productivity, quality and added
value, benefiting smallholder farmers and the cashew
processing industry in the Republic of Côte d’Ivoire.
45 Tamil Nadu Rural Transformation Project (P157702 | FY18 India 30

FY18): promote rural enterprises, access to finance, and
employment opportunities in selected blocks of Tamil Nadu.
46 Assam Agribusiness and Rural Transformation Project FY18 India 17

(P155617 | FY18): add value and improve resilience of
selected agriculture value chains, focusing on smallholder
farmers and agro-entrepreneurs in targeted districts of
Assam.
47 Integrated Infrastructure Development for National Tourism FY18 Indonesia 14

Strategic Areas Project (P157599 | FY18): improve
the quality of, and access to, tourism-relevant basic
infrastructure and services, strengthen local economy
linkages to tourism, and attract private investment in
selected tourism destinations in Indonesia.
48 Strengthening Entrepreneurship in Productive Forest FY18 Mexico 15

Landscapes (P164661 | FY18): strengthen sustainable
forest management and increase economic opportunities for
forest-dependent people and enterprises in selected forest
landscapes in Mexico.
4
IBRD
FY19c
• Cashew productivity in the project area increased by $200,000,000 $200,000,000 $22,892,617 $23,366,447 $285,250,000 70%
0.13 metric tons
• 110,374 metric tons of increased Raw Cashew Nut
processed domestically each year
services
• 190,000 metric tons of storage capacity of warehouses
built and/or rehabilitated
• 12,000 jobs created within the cashew processing
industrial platforms
• 411,620 project beneficiaries, 65% of which are female $100,000,000 $100,000,000 $520,967 $770,967 $142,800,000 70%
• 60% of individual and collective enterprises with
ongoing operations after two years of project support
• 75% of individual and collective enterprises supported
by the project leveraging funds from financial
institutions
• 40,000 beneficiaries accessing convergence training
programs
• 7,670 individual and collective enterprises receiving
funds from financial institutions
• 25% increase in price premium of commodities sold by $200,000,000 $200,000,000 $7,148,967 $8,554,585 $262,400,000 76%
beneficiaries in the selected value chains
services
• 25% increase in selected commodities sold through
new marketing channels
• 360,000 farmers adopting improved agricultural
technology
• 25 climate resilient technologies demonstrated in the
project areas
• US$388,800,000 of increased private investment in $300,000,000 $300,000,000 $3,310,679 $3,310,679 $772,900,000 39%
the tourism sector
• 2,849,500 beneficiaries of improvements to tourism-
relevant basic infrastructure and services (546,000
people provided with access to improved water
sources, 858,000 provided with access to sustainable
solid waste collection service and 624,000 provided
with access to improved sanitation services)
• 45,000 trainees and tourism professionals completing
competency based certification
• 191,000 ha under sustainable landscape management $56,000,000 $56,000,000 $9,887,738 $10,027,738 $185,000,000 30%
practices
• 330,750 ha of forest area brought under management
plans
• 70% increase in target beneficiaries that increase their
Index of forest entrepreneurship by at least one range
• 370,015 beneficiaries implementing sustainable forest
management schemes
• 3,688,424 tCO2 eq. reduced

# Country
49 Strengthening Agri-Food Value Chains (P158346 | FY18 Morocco 25

FY18): increase the volume of added-value products
commercialized in selected agri-food value chains in the
Program area.
50 Punjab Agriculture and Rural Transformation P4R Program FY18 Pakistan 25

(P162446 | FY18): increase the productivity of crop and
livestock farmers, improve their climate resilience, and foster
agribusiness development in Punjab.
51 Youth Economic Inclusion Project (P158138 | FY18): FY18 Tunisia 30

improve economic opportunities for targeted disadvantaged
youth in the selected governorates of the borrower.
52 Investment, Competitiveness and Inclusion Project FY18 Tunisia 28

(P161483 | FY18): help Tunisia boost job creation and
inclusive growth.
4
IBRD
FY19c
• 193,200 tons of conditioned and exported citrus $200,000,000 $200,000,000 $42,960,000 $93,460,000 $200,000,000 100%
annually
• 24,871 tons of conditioned and exported olives
annually
• 10,000 tons of high quality olive oil commercialized
annually
• 1,000 small and/or medium enterprises agri-food
authorized by ONSSA (National Food Safety Agency)
• 50 small- and/or medium-size producers and/or
enterprises assisted by the Agri-food Innovation
Center
services
• 240 beneficiaries reached with financial services
• 5 private markets and collection centers established
• 165,000 farmers adopting climate-smart agriculture
packages
• 500,000 farmers covered by agricultural insurance
• 400,000 ha under high-value agriculture
• 20% increase in share of supported youth with wage $60,000,000 $60,000,000 $10,055 $4,783,318 $60,000,000 100%
or self-employment
• 40% increase in share of supported youth with a job
at intake who increased their monthly earnings by at
least 20%
• 750 full-time equivalent (FTE) direct jobs created
among businesses supported by the project
• 10,500 beneficiaries of job-focused interventions
• 7,000 youths who completed internships or training,
3,000 of which are female
• Reduction in number of days required to issue the $500,000,000 $500,000,000 $483,314,156 $484,523,506 $500,000,000 100%
“Foreign Trade Certificate” (from 7 to 3 days)
• Reduction in electricity and gas subsidies (from 1.20%
to 1.00% of GDP)
• Reduction in transmission and distribution losses of
the power utility (from 16% to 12.5% of generated
power)
• Increase in volume of microcredits disbursed towards
income generating activities from 1103 to 1775
• Cash transfer program for children’s human capital
formation established
Information and Communication Technology

# Country
53 Improving Service Delivery to Citizens and Businesses FY18 Uruguay 18

through E-Government Project (P161989 | FY18):
improve the quality of selected e-government services
for citizens, businesses and the borrower's public
entities, and facilitate their access.
# Country
54 Private Sector Development for Inclusive Growth FY19 Egypt, Arab Republic 35
Development Policy Financing (P168630 | FY19): enable of
financial inclusion, private sector development and
strengthening fiscal management for inclusive growth in
Egypt.
55 Second Fiscal Consolidation and Inclusive Growth FY19 Gabon 20

Development Policy Financing (P164201 | FY19):
support Government’s efforts in strengthening
fiscal sustainability and efficiency in public sector
management; enhancing competitiveness; and
protecting the poor.
4
IBRD
FY19c
• 35% reduction in processing time of foreign trade $12,000,000 $12,000,000 $1,829,995 $2,850,917 $12,000,000 100%
related administrative requirements by VUCE (Single
Window for Foreign Trade) (equivalent to 17.4 hours)
• 300 additional distance learning materials delivered to
targeted schools
• 15,000 citizens' administrative processes attended to by
the Mobile Citizens Access Point
• 243 additional government executing units managing
electronic invoices received from their providers
IBRD
FY19c
• 600,000 microfinance beneficiaries using mobile $1,000,000,000 $1,000,000,000 $997,500,000 $1,000,000,000 $1,000,000,000 100%
payment or e-payment
• 20,000 published collateral registrations used by
MSME, corporate, individual debtors and syndicated
loans
• 73% decrease in days needed to start a busines
(from 11 to 3 days)
• 20 average firm registrations per month at the new
Investor Service Centers
• 50% increase in non-government financing as
percentage of total financing under Fekretak
Sherketak/Egypt Ventures initiative
• 20% increase in the number of SMEs participating in
public tenders and/or being awarded contracts
• 10% of property registration offices in the “new
urban communities” implementing the more
transparent procedures for deed registration
• 100,000 ride-sharing driver licenses issued
• 30,000 companies filing annual income tax returns
electronically
• Reduction in energy subsidies as a percentage of
GDP from 3.8% to 2.5%
• An updated expanded medium-term debt
management strategy will be published
• All 27 governorates and 188 districts preparing their
capital investment plans in accordance with the
formula-based system
• Reduction in non-oil revenue (as a percentage of $200,000,000 $200,000,000 $198,410,451 $198,906,862 $200,000,000 100%
non-oil GDP)
• Reduction in number of days necessary for business
registration
• Increased access to internet services
# Country
56 Uttar Pradesh Pro-Poor Tourism Development Project (P146936 | FY18 India 19

FY18): increase tourism-related benefits for local communities in
targeted destinations.
57 Strengthening Public Financial Management in Rajasthan (P156869 FY18 India 14

| FY18): contribute to improved budget execution, enhanced
accountability, and greater efficiency in revenue administration in
Government of Rajasthan.
58 Chhattisgarh Public Financial Management and Accountability FY19 India 11

Program (P166578 | FY19): improve accountability in the
management of public finances; strengthen revenue administration;
and improve efficiency in delivery of benefits in selected schemes, in
the state of Chhattisgarh.
59 Third Fiscal Reform Development Policy Financing (P167297 | FY19 Indonesia 14

FY19): support fiscal sector reforms that will assist the Government
of Indonesia in achieving its medium-term economic development
and poverty reduction goals.
60 Revenue Administration Reform Project (P149743 | FY18): improve FY18 Montenegro 25

the effectiveness of operational functions of Montenegro’s tax
administration and to reduce the compliance costs for corporate
taxpayers.
4
IBRD
FY19c
• 500 additional people provided with improved urban $40,000,000 $40,000,000 $3,341,531 $4,585,584 $57,140,000 70%
living conditions
• 300 individuals, professionals and small businesses in
the project destinations with increased annual income
• Average duration of stay of tourists in project areas
doubled
• 3,700,000 additional domestic visitors and 100,000
international visitors in project destinations
• Strengthened budget execution by increasing the use $21,700,000 $21,700,000 $2,341,009 $2,395,259 $31,000,000 70%
of Commitment Control System in 20 departments
covering 90% of their capital expenditure above
threshold as established by the policy
• Strengthened public procurement framework and
capacity by developing database of debarred firms,
enhancing procurement capacity of the officials and
publishing/notifying Standard Bidding Documents
• Improving effectiveness of Tax Audit in the Commercial
Taxes Department by improving by 20% audit hit
• District level planning under strengthened framework
mainstreamed in Rural Development and Panchayati
Raj Department and Department of Planning
• Complete and timely state financial reports available In $25,200,000 $25,200,000 $2,000,000 $2,063,000 $36,036,000 70%
public domain
• Audits completed in at least 10,500 units
• Increase in property tax collected over the baseline in
the selected urban local bodies by 20%
• Use of direct benefit transfer in 90% of validated
baseline of beneficiaries in the shortlisted schemes
• Decrease in time taken for central government $1,000,000,000 $1,000,000,000 $1,020,070,896 $1,020,070,896 $1,000,000,000 100%
monthly budget realization data to be made public
from 2 months to 15 days
• Proportion of Ministry of Public Works and Housing
budget (total) delivered through multi-year contracts
increased by 10%
• 6% increase in ministries and agencies covered by
disaster risk insurance (out of 87)
• 5% increase in the share of ministries and agencies
undertaking budget tagging for climate change
adaptation (out of 87)
• 20% increase in the proportion of the value of
contractual package for the budget year being
procured by the Ministry of Public Works and Housing
in the first semester
• 90% increase in the share of monthly value-added tax
(VAT) returns filed electronically
• Respectively 20% and 55% increase in the share of
annual individual and corporate income tax income tax
returns filed electronically
• Decrease in average time taken to receive land asset
and access financial information requested for audit
from 5 to 1 day
• The income tax regime is revised to reduce tax base
erosion and broaden the tax base
• 6% reduction in tax gap for VAT compared to 2020 $15,700,000 $15,700,000 $124,879 $778,509 $15,700,000 100%
• 10% and 7% increase in tax returns filed on time
(respectively for VAT and corporate income tax
• Decrease by 114 hours in the time it takes to pay
taxes and social contributions
# Country
61 Casablanca Municipal Support Program (P149995 | FY18): increase FY18 Morocco 23

the investment capacity of the Municipality of Casablanca, improve
the business environment and enhance access to basic services.
62 Third Programmatic Shared Prosperity Development Policy FY18 Panama 20

Financing (P166159 | FY18): support the Government of
Panama's efforts to strengthen the frameworks for international tax
transparency, financial integrity, and fiscal management; strengthen
institutional arrangements to support social assistance and
education; and enhance the regulatory and financial sustainability
framework of service delivery in the energy sector.
63 Improving Fiscal Management (P167651 | FY19): support the high- FY19 Philippines 19
level objective of the Government of the Philippines to improve fiscal
management.
64 Framework Development and Infrastructure Financing to Support FY19 Sri Lanka 20

Public-Private Partnerships Project (P163864 | FY19): support
the preparation of public-private partnerships that will enable the
Government of Sri Lanka to facilitate private sector financing for the
development of its priority infrastructure and services.
65 Sustainable Cities Project 2 (P161915 | FY18): improve the access FY18 Turkey 30
to targeted municipal services in participating municipalities and
utilities.
4
IBRD
FY19c
• 40% increase in municipal revenues excluding $200,000,000 $200,000,000 $24,173,223 $95,540,854 $550,000,000 36%
transfers
• 40% decrease in the average number of days required
for issuance of a building permit at the municipality
(equivalent to 20 days)
• 10,000 households in disadvantaged neighborhoods
provided with improved access to basic services
• By 2019 Panama has started sending and receiving $100,000,000 $100,000,000 $100,000,000 $100,000,000 $100,000,000 100%
confidential financial information for tax purposes on
automatic basis
• 55 banks supervised on-site on "Anti-Money
Laundering"/"Combating the Financing of Terrorism"
matters
• 90% of central government and decentralized
agencies expenditure payments
• 100% of central government debt that is paid
electronically
• 23% increase in extreme poor population benefiting
from at least one social assistance program
• 70% of investments by local governments that follow
National Planning and Public Investment System
norms and procedures
• Revenue from the petroleum excise tax increased $450,000,000 $450,000,000 $200,000,000 $200,000,000 $450,000,000 100%
from 0.2% to 0.5% of GDP
• Revenue from VAT increased from 4.3% to 4.6% of
GDP
• Increase by 10% in payments processed through the
Budget and Treasury Management System
• At least 5 departments/agencies (DepEd; DOH;
DPWH; NIA; and DSWD) will have data captured in
the National Asset Registry by end-2019
• Feasibility studies or project designs completed for at $25,000,000 $25,000,000 $3,387,276 $3,449,776 $25,643,087 97%
least 5 public-private partnership (PPP) transactions
with the assistance of the project
• Transaction advisory services provided for at least 4
PPP transactions with the assistance of the project
• Commercial closure of at least 3 PPP with the
assistance of the project
• 268,000 urban people provided with access to $652,140,000 $652,140,000 $22,456,000 $22,671,015 $92,540,000 705%
improved sanitation services
• 225,000 m³ of additional water capacity provided
• 36 km of water pipes laid
• 333 km of sewerage pipes laid
• 1 deep sea discharge line constructed
Social Protection
# Country
66 Salvador Social Multi-Sector Service Delivery Project (P162033 FY18 Brazil 31

| FY18): improve social service delivery in the Municipality
of Salvador, emphasizing improvements in health care
system efficiency, education quality, and social assistance
effectiveness.
67 First Inclusive and Sustainable Growth Development Policy FY19 Ecuador 30

Financing (P169822 | FY19): promote a more efficient
mobilization and allocation of government resources; reduce
barriers for private sector development; protect and include
vulnerable segments of the population.
68 Social Fund for Development (P163108 | FY18): improve FY18 Iraq 15

access to basic services and; to increase short-term
employment opportunities, in targeted communities.
69 Emergency Social Stabilization and Resilience Project FY18 Iraq 15

(P165114 | FY18): increase livelihood opportunities in liberated
areas; increase access to psychosocial services in liberated
areas; and strengthen the systems to expand the provision of
social safety nets.
70 First Equitable Growth & Job Creation Programmatic FY18 Jordan 35

Development Policy Financing (P166360 | FY18): support
Jordan to set foundations to reduce business costs and improve
market accessibility, create more flexible and integrated labor
markets and provide better and more efficient social assistance,
and improve fiscal sustainability and take more informed
decisions regarding risk.
71 Social Services Improvement Project (P162246 | FY19): expand FY19 North Macedonia 15
access to and improve the quality of social services, including
preschool services, for vulnerable groups.
4
IBRD IBRD
Commitment FY19c
• 45% increase in students at adequate level of literacy and $125,000,000 $125,000,000 $55,200,000 $55,512,500 $250,000,000 50%
numeracy at the end of the second grade in municipal
schools
• 28,500 families supported by the Integrated Family Support
Program at the Social Assistance Reference Center
• 78 additional health units with health services provision
available within the Municipal Regulation System
• 15,173 students benefiting from direct interventions to
enhance learning
• 106 municipal primary care units with financial management
system installed
• 6% decrease in the difference between approved and actual $500,000,000 $500,000,000 $500,000,000 $500,000,000 $500,000,000 100%
budget
• 1% decrease in spending in goods and services and
personnel in the non-financial public sector as a share of
GDP
• 1% decrease in energy subsidies as a share of oil revenues
• 1.4% increase in tax revenues as a share of GDP
• At least 3 new government contracts for amounts higher than
US$50 million, including public-private partnership contracts
in the tender process, that allow for international arbitration
• 2,590 new commercial companies registered and 12%
decrease in average days to import
• 80% of households in the bottom 40 percent of the
consumption distribution receiving compensation
mechanisms for the subsidy reforms
• Regulatory framework of the reform, approved
• 24 million of debit card transactions associated to
consumption
• 1,500,000 households benefitting from improved access to $300,000,000 $300,000,000 $5,000,000 $5,750,000 $300,000,000 100%
basic services, 750,000 of which are women
• 150,000 beneficiaries of short term employment, 50,000 of
which are women
• 1,350 targeted government staff trained in participatory
decision-making
• 150,000 beneficiary households receiving Cash for Work $200,000,000 $200,000,000 $10,000,000 $10,500,000 $200,000,000 100%
support, 75,000 of which are female headed households
• 150,000 beneficiaries receiving direct counseling
• 12,000 beneficiaries receiving livelihood support
• 1,200,000 beneficiaries of social safety net programs
• Aggregate business compliance costs reduced by 30% $389,000,000 $389,000,000 $388,027,500 $389,000,000 $500,000,000 78%
• Guaranteed exports as a percentage of total exports doubled
• 10% increase in average annual growth of formal, private,
part-time work for youths
• 1,919 additional manufacturing and services work permits
issued to Syrian workers
• 85,000 households covered by National Aid Fund
• Increase by 10.8% in national preschool enrollment rates for $33,400,000 $33,400,000 $1,125,790 $1,207,639 $33,400,000 100%
children ages 3 to 6 years old
• 60% increase in cash benefit recipients and social services
recipients recertified and recorded in the new information
system
• 40% of preschools with improved process quality as
measured by the quality assessment tool
• 3,000 beneficiaries receiving non-institutional social services
(alternative/non-residential forms of care) from licensed
providers
• 10,000 beneficiaries of social safety net programs
Transportation
# Country
72 Regional and Local Roads Connectivity (P163239 | FY18): FY18 Albania 30

improve access to selected agricultural and tourism centers,
and to strengthen their municipalities’ capacity to manage their
road assets.
73 Northwestern Road Development Corridor Project (P163115 FY18 Argentina 32

| FY18): improve connectivity and road safety along targeted
road sections of the Northwestern Corridor and to support
corridor development in the Northwest of Argentina.
74 Republika Srpska Railways Restructuring Project (P161122 FY18 Bosnia and 32

| FY18): improve transport connectivity of the country along Herzegovina
priority transport links and to support improvements in transport
operations and asset management practices.
75 Hubei Inland Waterway Improvement Project (P158717 | FY18): FY18 China 25

improve inland waterway transport capacity and reliability along
the Han River in support of low carbon development.
76 Madhya Pradesh Rural Connectivity Project (P157054 | FY18): FY18 India 25

improve durability and enhance resilience to climate changes
of the gravel surfaced rural roads in Madhya Pradesh while
building the capacity of the state to manage its rural road
network and road safety.
77 Enhancing Infrastructure Efficiency and Sustainability (P163760 FY18 Serbia 20

| FY18): improve the management and sustainability of select
public infrastructure by strengthening government capacity
and systems, upgrading assets, and increasing expenditure
efficiency.
4
IBRD IBRD
Commitment FY19c
• Travel time on project roads reduced by 35% $50,000,000 $50,000,000 $1,136,250 $1,261,250 $50,000,000 100%
• Improved municipalities’ road asset management
capacity as demonstrated through the adoption of
Municipal Rehabilitation and Maintenance Plan
• 9 agricultural and tourism centers connected by
improved project roads
• 55 km of rural roads rehabilitated
• 20% average travel time saved (25% for cars and 17% $300,000,000 $300,000,000 $27,000,000 $27,750,000 $311,000,000 96%
for trucks)
• Flow of passenger vehicles increased by 1,266
vehicles per day (additional 1,224 cars and 42 buses
per day)
• Freight volume transported along targeted road
sections of the Northwestern Development Corridor
increased by 1.24 millions tons per year
• 30% decrease in traffic-related deaths per hundred
million vehicle-kilometers travelled along targeted road
sections of the Northwestern Development Corridor
• 41% decrease in Railway Company of Republika $60,598,000 $60,598,000 $40,241,225 $40,390,841 $149,191,750 41%
Srpska working ratio
• Public Service Obligations Contract for passenger
services implemented and fully covering passenger
operations deficit
• Multi-annual infrastructure contract implemented, fully
covering infrastructure investments
• 3,390,000 tons of traffic passing through the Yakou $150,000,000 $150,000,000 $26,348,054 $26,723,054 $515,130,000 29%
Complex annually
• 340 days of navigability of 1000 DWT (Dead Weight
Tonnage) vessels annually
• 13,689 tons of CO2 emission reduction annually
• 6 additional powerhouses in operation
• 246,000,000 KWh of renewable energy provided
• 340 staff trained
• 25% decrease in annual maintenance cost (equivalent $210,000,000 $210,000,000 $74,820,097 $75,345,097 $502,000,000 42%
to US$250 per km)
• Maintenance network investment plan prioritized
• 100% of state highway network covered under Road
Accident Data Management System
• 10,510 km of rural roads constructed
• 1,500,000 rural population connected by all weather
paved roads
• 7,000 km of roads with better pavement condition by IRI $118,600,000 $118,600,000 $3,379,200 $33,476,888 $763,960,000 16%
(International Roughness Index) < 2.5
• 1,100,000 MWh of projected lifetime energy savings (in
renovated public buildings)
• 195 renovated buildings that meet Class C (or 2 classes
higher) energy performance certificate
• 19,000 metric tons of CO2 emissions reduction from
energy saved in renovated buildings
• 8,000 km of national roads maintained
• 1,381,000 estimated direct project beneficiaries

# Country
78 Hezhou Urban Water Infrastructure and Environment FY18 China 32

Improvement Project (P158622 | FY18): improve flood risk
management and reduce discharge of water pollutants in
Hezhou Municipality.
79 Jiangxi Integrated Rural and Urban Water Supply and FY19 China 29
Wastewater Management Project (P158760 | FY19):
increase access to and improve operating efficiency of
water supply services, and to pilot provision of improved
wastewater management, in selected counties in Jiangxi
Province.
80 Uttarakhand Water Supply Program for Peri Urban Areas FY18 India 17
(P158146 | FY18): increase access to improved water
supply services in peri-urban areas in Uttarakhand.
81 Shimla Water Supply and Sewerage Service Delivery FY19 India 16

Reform Programmatic Development Policy Financing
(P167246 | FY19): support the Government of Himachal
Pradesh in its policy and institutional development program
for improving water supply and sewerage services that are
financially sustainable and managed by an accountable
institution responsive to its customers.
4
IBRD IBRD
Commitment FY19c
• 105,600 people protected by improved flood mitigation $150,000,000 $150,000,000 $8,000,000 $8,448,371 $359,400,000 42%
infrastructure
• 100,000 people provided with access to improved
sewerage systems
• Flood risk management system developed and
implemented
• 1,073 metric tons of Biological Oxygen Demand (BOD)
pollution loads removed by the completion of sewer
system annually
• 68 km of river rehabilitated to improve flood risk
management and prevent water pollution
• 16 km of sewer pipeline constructed
• 4 water quality monitoring stations constructed and
operational
• 584,198 people with new access to piped water supply $200,000,000 $200,000,000 $2,000,000 $2,500,000 $366,730,000 55%
• Non-revenue water decrease by 10%
• Operation and Maintenance unit cost of water supply
system decreased by 22% (equivalent to 0.141 RMB/m³)
• 28,000 people with new connections to sewerage systems
• 16 km of sewerage pipelines completed or rehabilitated
• 83% decrease in BOD in pilot wastewater treatment plant
(equivalent to 73 tons)
• 1,880 km of water supply pipelines newly constructed and
rehabilitated
• 436,800 people receiving improved water supply services $120,000,000 $120,000,000 $1,000,000 $1,300,000 $150,000,000 80%
in peri-urban areas, 218,400 of which are female
• 30 peri-urban areas with improved policy, planning and
M&E systems implemented
• 87,757 water connections providing improved water supply
services in peri-urban areas
• Annual report on water services performance in peri-urban
areas prepared and published
• 0.5 hours per day per (female) household saved due to
water connection
• 2 urban local bodies as customers of the Shimla Jal $40,000,000 $40,000,000 $39,900,000 $40,000,000 $40,000,000 100%
Prabandhan Nigam Limited
• Collection efficiency increased by 20%
• Increase in Operations and Maintenance cost recovery for
bulk water & distribution, water distribution and sewage by,
respectively, 20%, 50% and 70%
• 2-% decrease in energy consumption of water production
from existing sources
• 20% reduction in non-revenue water

# Country
82 National Urban Water Supply Project (P156125 | FY19): FY19 Indonesia 14

provide access to improved water sources for the
population and strengthen the operational performance of
water service providers in selected urban areas.
83 Baghdad Water Supply and Sewerage Improvement FY18 Iraq 15

Project (P162094 | FY18): improve the quality of drinking
water supply and wastewater services in Baghdad.
84 Metro Manila Flood Management Project (P153814 | FY18 Philippines 25

FY18): improve flood management in selected areas of
Metro Manila.
Notes:
Amounts may not add up due to rounding.
Indicates project included in World Bank Green Bond portfolio.
Indicates projects specifically designed to address the challenges of fragility, conflict, and violence.
*Project Life generally indicates the period of time between the project approval date and the last repayment date of the project.
/a Target results are expected results based on estimates developed at the time of project approval and expected to materialize at the end of the project implementation period
(5 years in most cases). The indicators shown are normally a subset of the development impacts contained in project documentation available in the World Bank project website
(http:// www.worldbank.org/projects). Results reported are based on the entire project, with the percent shown next to the loan amount corresponding to the proportion of the
total financing that is financed by World Bank loans. Actual impacts may be different from these estimates and do not represent the actual results in a specific year. Quantitative
estimates are intended to be indicative of the scale of impacts and qualitative results aim to inform about the nature of changes that will be achieved as a result of projects once
they are completed and at full capacity.
/b The committed amount is the World Bank loan net of cancellations reported in equivalent US$ billions. Loans denominated in other currencies are converted to US$ equivalents
using the spot exchange rate on the report date (June 30, 2019).
/c The disbursement amount is the amount of World Bank bond proceeds allocated to support the financing of disbursements to the project reported in equivalent US$ millions.
Loans denominated in other currencies are converted to US$ equivalents using the spot exchange rate on the report date (June 30, 2019).
/d The percentage shows the share of the total financing that is provided by World Bank loans. When a project is co-financed, this share could be used to apportion total results to
the World Bank.
4
IBRD IBRD
Commitment FY19c
• 6,000,000 people provided with access to improved water $100,000,000 $100,000,000 $1,000,000 $1,000,000 $602,600,000 17%
sources, 3,000,000 of which are women
• 1,200,000 new piped household water connections
• 200 local governments and local government-owned
utilities (Perusahaan Daerah Air Minum) participate in
technical assistance and capacity building programs
• The National Urban Water Supply Framework
operationalized
• 1,000,000 people provided with access to improved water $210,000,000 $210,000,000 $5,000,000 $5,525,000 $210,000,000 100%
sources
• 1,000 people benefiting from access to improved drinking
water supply
• 4,000 people benefiting from access to improved sanitation
• Increased by three times the duration of water supply
at a minimum pressure (10m) in Shaab and Rasheed
municipalities (equivalent to 16 additional hours)
• 135,000 m³ of additional reservoir capacity constructed
• 97 m³ of additional wastewater collected and safely
disposed annually
• 4,900 ha of flood-prone areas that are free of water within $207,603,205 $207,603,205 $4,478,489 $4,997,497 $500,000,000 42%
24 hours after a major rainfall event
• 1,700,000 direct project beneficiaries, 850,000 of which
are female
• 8,500 m³ of decreased solid wastes collected at targeted
existing pumping stations
• 36 existing pumping stations rehabilitated and 20 new
pumping stations constructed and operational
• 104 km of drainage waterways cleaned
Annex
4
54 WORLD BANK BONDS FOR SUSTAINABLE
WORLD DEVELOPMENT | IMPACT
BANK BONDS FOR REPORT DEVELOPMENT
SUSTAINABLE 2019 | IMPACT REPORT 2019 71
ANNEX
ANNEX 1: 2:
Impact Reporting Approach

The intention of impact reporting is to help investors develop a more detailed understanding of the results from
World Bank projects. Several key results indicators have been selected and, where possible, quantified, but
it is important to appreciate the inherent limitations of data reported. The main considerations to adequately
interpret results are:
RESULTS INDICATORS The indicators used in the PERIOD OF INCLUSION IN REPORT Projects
projects tables of this report have been selected from are added to the impact report in the fiscal year that
among other expected development results and are the project is approved after loan disbursements have
intended to illustrate the type and scale of expected begun.
results in a variety of sectors and country contexts.
REPORTING FOR CO-FINANCED PROJECTS
SCOPE OF RESULTS Unless otherwise indicated, The World Bank often co-finances projects with the
reporting is based on ex ante estimates of impacts client country and/or other lenders. The results for
at the time of project appraisal and mostly for direct the individual project are based on the total project
project effects. The Project Impact Highlights of this including all financiers. The World Bank’s share of the
report includes selected results that are aggregated total financing is included for each project.
where possible and do not represent all countries or
regions where the World Bank supports the financing AGGREGATIONS OF GHG ESTIMATES When
of projects. Project Impact Highlights should not be reported in the “Project Appraisal”, “Implementation
considered a comprehensive accounting of results. Status and Results”, and/or “Implementation
Additional project results are presented in the Projects Completion and Results” reports, the GHG emission
by Sector section of the report and the full set of project reductions for projects are reported in tons of CO2
results can be found at http://projects.worldbank.org. equivalent. The World Bank, in conjunction with
other International Finance Institutions, developed a
UNCERTAINTY An important consideration in harmonized approach for GHG accounting.7 At the
estimating impact indicators and projecting results is that same time, the World Bank developed internally
they are based on assumptions. While technical experts consistent GHG accounting methodologies in order
aim to make sound and conservative assumptions that to track ex-ante gross and net emissions in
are reasonable based on the information available at investment projects across relevant sectors and over
the time, the actual impact of the projects generally their economic lifetime. Starting in FY19, the WBG is
diverge from initial projections. In general, behavioral reporting aggregated annual net GHG emissions
changes or shifts in baseline conditions can cause reductions in the 2019 Corporate Scorecard.8 Given
deviations from projections. these recent developments in GHG accounting, the
basis for estimating CO2 equivalent emission
COMPARABILITY Caution should be taken in reductions for projects approved prior to FY19 may
comparing projects, sectors, or whole portfolios because vary.
baselines (and base years) and calculation methods
may vary significantly. In addition, the cost structures ALL REPORTED RESULTS ARE FROM PUBLICLY
between countries will also vary, so that developing AVAILABLE SOURCES Reporting is based on
cost-efficiency calculations (such as results per dollar publicly available impacts for the projects disclosed in
invested) could, for example, place smaller countries “Project Appraisal”, “Implementation Status and
with limited economies of scale at a disadvantage and Results”, and “Implementation Completion and Results”
will not take into consideration country-specific context. reports. To facilitate comparability of the reported
results, the reporting units have been converted
OMISSIONS AND QUALITATIVE RESULTS where such conversion is based on a standard
Because the selected projects aim to provide social conversion factor. For a broader country context on
and developmental benefits as well as climate and developmental impacts of projects, view the full set of
environmental ones, they will have impacts across project documentation available on the World Bank
a much wider range of indicators than captured in website at http://projects. worldbank.org.
the previous section. Therefore, exclusively Notes:
focusing on the reported indicators will leave out
/7 For more information on the harmonization framework, see http://documents.
other important development impacts. Where worldbank.org/curated/en/758831468197412195/pdf/101532-WP-P143154-PUBLIC-
quantitative data is unavailable, qualitative Box394816B-Joint-IFI-RE-GHG-Accounting-Approach-clean-final-11-30.pdf
indicators have been included to illustrate other /8 https://scorecard.worldbank.org/tier1-development-context
beneficial impacts.
4
72 WORLD BANK BONDS FOR SUSTAINABLE DEVELOPMENT
WORLD BANK | IMPACT
BONDS FOR REPORT
SUSTAINABLE 2019
ANNEX
ANNEX 2:3:
World Bank Project Cycle

All projects that the World Bank chooses to finance and to which it applies bond proceeds go through the
Project Cycle.
11
PROJECT IDENTIFICATION The World Bank works with a borrowing country’s government on a Country
Partnership Framework that identifies the country’s priorities for reducing poverty and improving living
standards. Within those priorities, the World Bank and the government agree on a project concept, which is
outlined in a Project Concept Note. The Project Information Document outlines the project’s scope, and the
Integrated Safeguards Data Sheet identifies potential environmental and social issues.
22
PROJECT PREPARATION The borrower leads project preparation, with the World Bank generally taking
an advisory role. If necessary, the borrower prepares an Environmental Assessment Report that describes
the project’s likely environmental impact and steps to mitigate possible harm. If there are major issues, the
borrower prepares an Environmental Action Plan. An analysis of a project’s potentially adverse effects on
indigenous peoples may also be undertaken, and any issues are addressed in the Indigenous Peoples Plan.
33
PROJECT APPRAISAL The government and the World Bank review the identification and preparation
documents and confirm the expected project outcomes, intended beneficiaries and evaluation tools, as well
as the project’s readiness for implementation. The Project Information Document is updated and released
when the project is approved for funding.
44
PROJECT APPROVAL The project team prepares the Project Appraisal Document (for Investment Project
Financing) or the Program Document (for development policy financing), along with other financial and legal
documents, for submission to the World Bank’s Board of Executive Directors for approval. When approval is
obtained and the legal documents are signed, the implementation phase begins.
55
PROJECT IMPLEMENTATION The borrower implements the
project with technical assistance and support from the World 01
Bank as needed. Twice a year, the government and the
World Bank prepare a review of project progress, the
Implementation Status and Results Report.
66
Identification
PROJECT COMPLETION & EVALUATION 06 02
ati n &
Pre
When a project is completed and closed, a World

on
Bank operations team prepares an Implementation

alu tio
pa
Ev ple
Completion and Results Report. The final outcomes

ra
tio
are compared to expected results. The team also

m
Co
assesses how well the project complied with the

World Bank’s operations policies, and accounts for
Im
the use of World Bank resources. The World Bank’s

ple
al
Independent Evaluation Group (IEG) assesses the

ais
m
performance of roughly one project out of four

pr
en
projects a year, measuring outcomes against the

Ap
tat
original objectives, sustainability of results and

05 03
ion
institutional development impact. IEG may produce Approval

Impact Evaluation Reports to assess the economic
worth of projects and the long-term effects on people
and the environment.
04
4
ANNEX 3:
Accountability Mechanisms
Four key groups hold the Bank accountable to its clients and shareholders, ensure the highest performance
standards in development effectiveness, protect the integrity of the projects financed, and constantly
improve the efficacy of its internal operations:
1
The INSPECTION PANEL, established by the Bank’s Board of Directors as the first
independent accountability mechanism at an international financial institution, provides
people and communities who believe that they have been or are likely to be harmed by a
project funded by IBRD or IDA access to an independent body, where they can express their
concerns and seek recourse. The Inspection Panel’s annual reports are available online at
inspectionpanel.org.
2
The INDEPENDENT EVALUATION GROUP (IEG) aims to strengthen the Bank Group’s
development effectiveness through evaluations that assess results and performance
and provide recommendations for improvements. IEG’s evaluations contribute to
accountability and learning, helping inform the Bank Group’s directions, policies and
procedures, and country partnership frameworks. IEG reports are available online at
ieg.worldbankgroup.org.
3
The INTEGRITY VICE PRESIDENCY (INT) investigates allegations of fraud, corruption,
collusion, coercion, and obstruction in Bank Group-financed projects, including those
involving Bank Group staff and corporate vendors. INT’s annual report is available online at
worldbank.org/en/about/unit/integrity-vice-presidency.
4
The GROUP INTERNAL AUDIT (GIA) provides independent, objective, and insightful risk-
based assurance and advice to protect and enhance the value of the World Bank Group. GIA
provides senior management and the Board with an independent view and reasonable
assurance that processes for managing and controlling risks—as well as their overall
governance—are adequately designed and functioning effectively. GIA’s annual and quarterly
reports are available online at worldbank.org/internalaudit.
The World Bank monitors IBRD’s operational performance through the World Bank Corporate
Scorecard and provides regular opportunities to discuss progress on operations with the Bank’s
Executive Directors. The World Bank Corporate Scorecard is available online at scorecard.
worldbank.org. Boards of Directors’ Work Programs, Calendars, and Meeting minutes are
available at worldbank.org/en/about/leadership/directors.
ANNEX 4:
World Bank Sustainability

Reporting Resources
The Sustainability Review 2019 provides insights into World Bank
activities undertaken between July 1, 2017, and June 30, 2019, to
manage the environmental, social, and economic impacts of internal
business operations. The content and data in this document relate to
IBRD and IDA, together, the World Bank. This Review complements the
World Bank GRI Index 2019.
The GRI Index 2019 provides an overview of sustainability considerations

within the World Bank’s lending and analytical services as well as its
corporate activities. This index of sustainability indicators has been
prepared in accordance with the internationally recognized standard
for sustainability reporting, the GRI Standards: Core option (https://www.
globalreporting.org). The GRI Index covers activities from fiscal year
2019, July 1, 2018, through June 30, 2019.
The World Bank Corporate Responsibility Strategic Plan, approved in

2016, reviews mandates and progress on corporate responsibility at the
World Bank; evaluates the current corporate responsibility landscape
and trends; engages stakeholders for input on corporate responsibility
issues; identifies implementation priorities; and establishes a rolling
three-year implementation plan for corporate responsibility.
Find out more on the World Bank’s progress on sustainability in our

reporting to the CDP, formerly known as the Carbon Disclosure Project.
The Corporate Scorecards provide an overarching view of the results

and performance indicators of the World Bank Group’s three institutions:
the World Bank (IBRD and IDA), the International Finance Corporation
(IFC), and the Multilateral Investment Guarantee Agency (MIGA). The
Scorecards are critical tools for monitoring the WBG’s performance in
key global and institutional priority areas.
The Annual Report provides insights and financial data on the World
Bank’s activities and contributions to development progress for the
fiscal year. Information and results are presented thematically and by
region. Fiscal year data is presented separately for IBRD and IDA.
4
4
ANNEX 5:
List of Abbreviations
BOD
BOD Biological oxygen
Biological oxygen demand
demand
CIT
CO eq Computer Information Technology
Carbon dioxide equivalent
2
ESG2eq
CO Carbon dioxidesocial,
Environmental, equivalent
and governance
DPL/DPO
FDI Development Policy Loan/Operation
Foreign direct investment
EOE
GWh Export oriented
Gigawatt hour enterprises
ESG
ha Environmental,
Hectare social, and governance
IBRD
IBRD World
World Bank
Bank (International
(International Bank
Bank for
for Reconstruction
Reconstruction and
and Development)
Development)
ha
IDA Hectare
International Development Association
ICT
ICT Information,
Information, Communication,
Communication, and
and Technology
Technology
IFI
Kg International Financial Institution
Kilogram
Km
Km Kilometer
Kilometer
kVA
kVA Kilo-volt-ampere
Kilo-volt-ampere
KWh
KWh Kilowatt-hour
Kilowatt-hour
LIBOR
LED London
Light Interbank
emitting Offered Rate
diode
MSME
LIBOR Micro,
London Interbank Offeredenterprises
small and medium Rate
MVA
m3 Mega
Cubic volt ampere
meters
MWh
M&E Megawatt-hour
Monitoring and evaluation
NOx
MSME Oxides of nitrogen
Micro, small and medium enterprises
PFI
MWh Participating
Megawatt-hour financial institution
PforR
RMB World
ChineseBank Program for Results
renminbi
POS
SDGs Point-of-sale
Sustainable Development Goals
SDGs
SME Sustainable Development
Small and medium Goals
enterprises
SME
SSA Small and medium
Sovereign, enterprises
supranational and agency
SSA
TB Sovereign, supranational and agency
Tuberculosis
TB
tCO2eq. Tuberculosis
Tons of carbon dioxide equivalent
tce
USDeq. Tonsdollar
US of coal equivalent
equivalent
TEU
VAT Twenty-foot equivalent
Value-added tax unit
USDeq. US dollar equivalent
DISCLAIMER
This document has been prepared by the World Bank (International Bank for Reconstruction and Development, IBRD) for information purposes
only, and the World Bank makes no representation, warranty or assurance of any kind, express or implied, as to the accuracy or completeness
of any of the information contained herein. It is prepared by staff based on reviews of the underlying project documentation. In the event of a
discrepancy between the report and the underlying source (project or bond documentation, or other source) the latter prevails.
DISCLAIMER
This document is not an offer for sale of securities of the World Bank (International Bank for Reconstruction and Development, IBRD). Any
This document
offering has been
of World prepared
Bank by the will
securities Worldtake
Bankplace
(International
solelyBank for Reconstruction
on the basis of theand Development,
relevant IBRD)
offering for information purposes
documentation only, and
including, butthenotWorld Bankto,
limited makes no
representation,
the prospectus, warranty
termor sheet
assurance of any final
and/or kind, express
terms, orasimplied, as to theprepared
applicable, accuracy orby
completeness
the WorldofBank
any of or
theon
information
behalf contained herein.Bank,
of the World It is prepared
and isbysubject
staff based
to on
reviews of the underlying project documentation. In the event of a discrepancy between the report and the underlying source (project or bond documentation, or other source) the latter
restrictions under the laws of several countries. World Bank securities may not be offered or sold except in compliance with all such laws.
prevails. This document is not an offer for sale of securities of the World Bank (International Bank for Reconstruction and Development, IBRD). Any offering of World Bank securities will
take place solely on the basis of the relevant offering documentation including, but not limited to, the prospectus, term sheet and/or final terms, as applicable, prepared by the World
Any
Bank orexamples provided
on behalf of in this
the World Bank, anddocument
is subject toare provided
restrictions underfortheillustrative purposes
laws of several countries. only
World and
Bank no assurance
securities may notcan be provided
be offered thatindisbursements
or sold except compliance with allfor
projects withexamples
such laws. Any these specific
provided incharacteristics
this document arewill be made
provided by thepurposes
for illustrative World Bank during
only and the term
no assurance can beof provided
a specificthatWorld Bank bond.
disbursements for projects with these specific
characteristics will be made by the World Bank during the term of a specific World Bank bond.Net proceeds of a specific World Bank bond are not committed or earmarked for lending
to, or proceeds
Net of aparticular
financing of, any specific World
projects or Bank
programs,bond
and are notoncommitted
returns orBank
a specific World earmarked forlinked
bond are not lending
to theto, or financing
performance of anyof, any particular
particular projects or recipient
project or program.Each programs,
of
andthisreturns
report is deemed to acknowledge
on a specific that thisbond
World Bank is a proprietary
are notdocument
linked to of the
the World Bank and byof
performance receipt
any hereof agrees
particular not to disclose
project it, or permit disclosure of it, to third parties
or program.
without attributing the source or the prior written consent of the World Bank.
Each recipient of this report is deemed to acknowledge that this is a proprietary document of the World Bank and by receipt hereof agrees not
All photos, graphics and content © World Bank.
to disclose it, or permit disclosure of it, to third parties without attributing the source or the prior written consent of the World Bank.
All contents are the property of the World Bank. All photos, graphics and content © World Bank.
INVESTOR RELATIONS
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2019

World Bank Bonds for Sustainable Development: 2019 Impact Report

The report was designed by Jonelle Karinne Agurs.

About the Report

A Message from the Treasurer

As a pioneering issuer of green and sustainable bonds,

by issuing the first labeled green bond, as a founding

in our role as an executive committee member of the

our partnerships with asset owners like the Government

Pension Investment Fund of Japan. These efforts are

helping to expand sustainable investment infrastructure

and build awareness about approaches that incorporate

ESG factors into fixed-income investment.

World Bank bonds offer investors the opportunity to earn

World Bank Vice President & Treasurer

society. Our Sustainable Development Bonds also help

investors manage ESG risks and achieve development

only select environmental aspects such as our green bond portfolio.

and reducing inequality around the world for future generations. A

sustainable future requires us to focus on every aspect of our

ABOUT THE WORLD BANK:

Mission & Strategy

SUPPORTING MEMBERS THROUGH A CRISIS:

The World Bank’s

The WBG, across its financing institutions, IBRD, IDA, ARGENTINA

As of early May 2020, the World Bank has financed,

THE WORLD BANK’S APPROACH:

Engaging with Investors

HEALTH AND NUTRITION OF WOMEN AND CHILDREN

OCEANS, FISHERIES & COASTAL ECONOMIES

FOOD LOSS & WASTE

JULY AUGUST SEPTEMBER OCTOBER NOVEMBER

12 WORLD BANK BONDS FOR SUSTAINABLE DEVELOPMENT | IMPACT REPORT 2019

Issuance and Lending

Benchmark/Global Bonds Other Plain Vanilla Bonds Structured/Risk Transfer Notes

IBRD LENDING COMMITMENTS SUPPORT CRITICAL AREAS

57% have a gender focus*

31% have climate co-benefits

*As a percentage of total new projects committed

Middle East &

Latin America & Caribbean

By Region: Committed/a Allocated &

1,305,681 PeoplePeople and end open defecation, paying special

15,265,288 tCO eq.

Notes: 1,705,913 tCO eq.

37,172 Impact Highlights

1,178,400 Medium and Small Enterprises

579,584 People of sustainableor userehabilitated

5,000,000 Hectares consistent

Hectaresof forest reforested or rehabilitated

of forest reforested or rehabilitated inHectares

Projects approved & disbursing

15,265,288 tCO eq.

Projected Impact Highlights

Brazil skills, including

74,800 Teachers tertiary

1,500,000 People focus onaffordable

Reducing the Gender Gap in