The World Bank has raised €1.5 billion from a 10-year Global Sustainable Development Bond, which will be listed on the Euronext Dublin exchange.

It will also be listed on the Luxemburg Stock Exchange.

The funds were raised from institutional investors around the globe to finance the World Bank's sustainable development activities.

This is the World Bank's first 10-year euro global bond in ten years, and its first global euro bond since August 2018. 

The timing of the new bond bond coincides with a workshop being held in Dublin, which brings together bond issuers, investors and other key market participants for action on Sustainable Development Goals (SDGs). 

The event highlights Ireland's role in sustainable finance efforts to channel more institutional savings towards sustainable projects around the globe.

It follows Dublin's recent designation as a European hub of the Financial Centres for Sustainability (FC4S) network and the National Treasury Management Agency's first green bond.

Minister for Finance & Public Expenditure and Reform Paschal Donohoe said that working together with the development and financial community is a key part of the government's strategy. 

"We welcome the World Bank's new sustainable development bond to raise awareness for SDGs that are aligned with our priority areas of prioritising gender equality, reducing humanitarian need, climate action, and strengthening governance," Mr Donohoe added.