The World Bank has sold the first rhino bond to aid South Africa`s conservation efforts.

• The World Bank has issued the world`s first wildlife conservation bond, earning $150 million to support efforts in South Africa to increase the population of endangered black rhinos.
• The five-year `rhino bond` will pay investors based on the growth rate of black rhino populations in South Africa`s Addo Elephant National Park (AENP) and the Great Fish River Nature Reserve (GFRNR).
• If the population grows, investors might expect a return of between 3.7 percent and 9.2 percent after five years.
• It went on to say that if the black rhino population does not alter, they will receive no compensation. Black rhinoceroses are two-horned members of the endangered rhinoceros family that can only be found in Africa.

International Current Affairs March 3rd Week 2022