SUSTAINABLE FINANCEAND ESG ADVISORY
Provided technical assistance tothe Indian Government for theirinaugural green bond issuance;
the Colombian Government
to become the first sovereign inLatin America to issue a green
bond in the domestic market;
the Indonesian state-owned
enterprises to issue their green
and sustainability bonds; theEgyptian Government to issue the first sovereign green
bond in the Middle East; the Nigerian Government to issue
the first African green bond; the Fijian Government to issue
the first sovereign green bond by an emerging market; theMalaysian solar power company Tadau Energy to issue
the first green Sukuk in the world.

DISASTER RISK MANAGEMENT
AND INSURANCE• Provided Chile with $630 million
in insurance against earthquakes
for three years by executing thelargest single-country catastrophebond and swap transaction• Provided Jamaica with $185
million in storm protection for threehurricane seasons by issuing acatastrophe bond
• Provided Mexico with insurance against hurricane andearthquake events for four years by issuing $485 million ofcatastrophe bonds

FINANCIAL OPTIMIZATION• Designed a $1.45 billion financial
solution for Jordan that helped
increase the loan amount, lower
the expected financing cost, andextend the average maturity ofJordan’s overall debt profile• Developed a creative financial
framework to blend donor grants
with IBRD loans for the Global
Concessional Financing Facility (GCFF) to unlock $3-4
in concessional loans for every $1 in donor contributions.
GCFF’s financial framework has become the benchmark forother global facilities

CLIENT
SOLUTIONSCONTINGENT FINANCING• Helped Romania safeguard
insured bank deposits with a$452 million Investment ProjectFinancing with a Deferred
Drawdown Option (IPF-DDO)• Helped Colombia strengthen
resilience to disasters, climatechange, and health risks byutilizing a development policy loan
with a $300 million catastrophe deferred drawdown option(Cat DDO)• Helped Indonesia mobilize funding from the capital markets
with a $2 billion Development Policy Loan (DPL) with aDeferred Drawdown Option (DDO)

FINANCIAL RISK MANAGEMENT• Helped crisis-hit Sri Lanka reduce
interest rate risk by converting 11loans, totaling $712 million, fromvariable reference rates to fixedreference rates at competitive
financing terms• Helped Angola reduce interest
rate risk on 98 percent of their
IBRD outstanding loan portfolio
and thus created up to $270 million in potential savings on
the estimated interest payments• Helped Colombia protect $10.7 billion against interest
rate increases by using the conversion feature of the IBRD
Flexible Loan (IFL). This reduced the floating rate exposureof Colombia’s IBRD loan portfolio by 99.4 percent

IDA FINANCING• Maximized concessional
financing for Tanzania bystructuring a $500 million blended
financing package. The package
combines the IDA Shorter Maturity
Loan with a regular IDA Scale-Up
Window loan
• Maximized concessional
financing for Rwanda by structuring
a $257.5 million financial package from five different funding
sources, including credits, grants, and concessional loans• Helped Côte d’Ivoire access IBRD financing for promoting
the cashew processing industry by structuring a €163 million
IBRD Enclave Loan

OUTCOME BONDS• Made up-front financing available
to a water purifier project inVietnam by securitizing futurecarbon credit sales revenue
through the $50 million Emission
Reduction Linked Bond• Raised up-front financing for aconservation project that boosts
South Africa’s efforts to protect
black rhinos through a $150 million Wildlife Conservation
Bond with support of a results-based grant

FINANCIAL PRODUCTS &CLIENT SOLUTIONS
1225 Connecticut Avenue NW
Washington, D.C., 20433, U.S.A.
Miguel Navarro-Martin
Manager
Financial Products & Client Solutions
World Bank Treasury
mnavarromartin@worldbank.org+1 (202) 458 4722

FINANCIAL PRODUCTS &CLIENT SOLUTIONSFINANCING
The World Bank offers a wide variety of loans
at highly competitive rates depending on theborrower’s income classification and other criteria.

FINANCIAL PRODUCTS &CLIENT SOLUTIONSFINANCIAL RISKMANAGEMENT
Stand-alone hedging products for risk
management help clients manage financial risks
related to IBRD debt or third-party liabilities.

IBRD Flexible Loan (IFL)

Currency Swaps

IBRD Enclave Loans for IDA borrowers

Interest Rate Swaps

IDA Grants, Credits

Commodity Price Swaps

IDA Non-concessional Loans

Interest Rate Caps & Collars

OUTCOME BONDS
The World Bank structures and issues bonds thatmobilize private capital to directly support theup-front project financing needs of clients and/or manage risks. Outcome bonds can solve thetiming mismatch between future revenue streams
or results-based donor/outcome payments and theup-front financing needs of projects.

Local Currency Financing

We design and implement financial products and provide
advisory services that help clients maximize access todevelopment financing and mitigate risks.
We help clients find the most suitable financing sources
and financial terms for projects.
Our clients may be exposed to currency, interest rate,
and refinancing risks depending on financing sources
and financing terms. They may also be vulnerable tonatural disasters or commodity price volatility that havesevere economic impacts.
The World Bank offers a suite of financial products
ranging from loans and credits to risk management
products, contingent credit lines, and insurance/reinsurance and derivatives. The team also offers
advisory services to help clients on a variety of topics,
from sustainable finance to risk management strategies.

WHY WORK WITH THE
WORLD BANK TREASURY?
The World Bank Treasury has deep relationships withmajor financial institutions and unmatched financial
sector expertise, anchored in years of capital markets
and structured funding activities.
The team leverages the World Bank’s (IDA and IBRD)
AAA credit rating, market presence, and convening
power to identify and help implement the right solution
for clients.

CONTINGENTFINANCING
Contingent financing allows IBRD and IDA borrowers torapidly meet financing requirements following adverse
economic events, natural disasters, or health-related
emergencies.
The Development Policy Loan (DPL) with a Deferred
Drawdown Option (DPL-DDO)
The Development Policy Loan with a Catastrophe
Deferred Drawdown Option (Cat-DDO)
The Investment Project Financing with a Deferred
Drawdown Option (IPF-DDO)

DISASTER RISKMANAGEMENT AND
INSURANCEThe World Bank provides clients with insurance
cover for disaster events by transferring disasterrisks to capital markets and reinsurance markets.
Insurance solutions complement other risk
financing instruments and increase the financial
resilience of clients against catastrophic events.
Catastrophe bonds
Catastrophe swaps/reinsurance
Weather derivatives

ADVISORY ANDCAPACITY BUILDING
The World Bank Treasury partners with otherunits across the World Bank to provide technicalassistance and capacity building to countries on:
IDA to IBRD transition
Accessing market-based disaster risk transfer
instruments
Using financial instruments to manage marketrisks
Developing green financing strategies,
roadmaps, and regulations
Identifying sustainable financing options,developing sustainable financial systems, andfacilitating the issuance of labeled bonds suchas Green Bonds, Blue Bonds, Social Bonds,
Sustainability Bonds