Project: INDIGO-POJ-0247

Outcome definition: The World Bank will pay a Conservation Success Payment to Noteholders at maturity, which will be determined based on the rhino population growth rate in the Addo Elephant National Park and Great Fish River Nature Reserve over the term of the bonds. If final rhino population growth rate is  ≤ 0%, there is no conservation success payment for investors.

Outcome definition: If final rhino population growth rate is 0% < X ≤ 2%, investors will receive USD 36.69 for every USD 1000 that they invested in the project.

Outcome definition: If final rhino population growth rate is 2% < X ≤ 4%, investors will receive USD 73.38 for every USD 1000 that they invested in the project.

Outcome definition: If final rhino population growth rate is > 4%, investors will receive USD 91.73 for every USD 1000 that they invested in the project.The maximum Conservation Success Payment is US$13.76 million.