#1IDA International Development Association WORLD BANK GROUP INVESTING FOR IMPACT#21 THE WORLD BANK IDA U.S. Offering Restrictions/ Disclaimer This document and the information it contains are not being issued and may not be distributed in the United States. This document does not constitute an offer to sell, or a solicitation of offers to purchase or subscribe for, securities in the United States. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED, EXERCISED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS. Note Regarding Securities Ratings: A security rating is not a recommendation to buy, sell or hold securities. Additionally, the security rating may be subject to revision or withdrawal at any time by the assigning rating organization. Each rating should be evaluated independently of any other rating. IDA International Development Association WORLD BANK GROUP#32 THE WORLD BANK IDA Notification in Relation to Private Placement of Bonds in Japan The following presentation can be considered to be a solicitation of offer to acquire bonds under the laws of Japan (the "Acquisition Solicitation"). This presentation, and any such Acquisition Solicitation, is targeted only to Qualified Institutional Investors (Q"QII") and only Qlls can be purchasers (the "Purchaser") of any bonds mentioned in this presentation. QIIs who would purchase any of the bonds mentioned herein are prohibited from transferring such bonds to any person other than another QII. Pursuant to Article 23-13 of the Financial Instruments and Exchange Law ("FIEL"), the following notification to each of the QIls receiving solicitation in relation to the Acquisition Solicitation of any bonds mentioned herein is hereby made as follows: - • • Note: As the Acquisition Solicitation falls under the situation as specified in Article 2(3)(ii)(a) of the FIEL, no securities registration statement has been or will be filed with respect to any of the bonds mentioned herein under Article 4(1) of the FIEL. The restriction that Qlls who would purchase any of the bonds mentioned herein are prohibited from transferring such bonds to any person other than another QII is stated in this presentation. - "Qualified Institutional Investor" or "QII" is defined in Article 10, paragraph 1 of the Cabinet Office Ordinance Concerning the Definitions as Stipulated in Article 2 of the Financial Instruments and Exchange Law (MOF Ordinance No. 14 of 1993, as amended) and refers to those investors that are deemed to have expert knowledge of, and experience with, investments in securities (Tekikaku Kikan Toshika). "FIEL" refers to the Financial Instruments and Exchange Law - Law No. 25 of 1948, as amended. ANY SOLICITATION OF OFFER TO ACQUIRE BONDS DISCUSSED IN THIS PRESENTATION IS INTENDED EXCLUSIVELY TO QUALIFIED INSTITUTIONAL INVESTORS IN JAPAN. THIS PRESENTATION IS FOR INFORMATION PURPOSES ONLY FOR, AND SHOULD NOT BE CONSTRUED AS A SOLICITATION OR OFFER OR RECOMMENDATION TO ENGAGE IN ANY TRANSACTION WITH, ENTITIES OR INDIVIDUALS THAT ARE NOT QUALIFIED INSTITUTIONAL INVESTORS IN JAPAN. IDA International Development Association WORLD BANK GROUP#4ROADMAP Introduction Financial Strength Funding IDA at Work Annex: Project Stories IDA International Development Association WORLD BANK GROUP#5INTRODUCTION PolacoStudios/iStock IDA International Development Association WORLD BANK GROUP#65 INTRODUCTION TO IDA • . • ● . World Bank Status: Established in 1960 as legally independent entity with the same status, immunities and privileges as IBRD and IFC Ownership: 174 countries. US, Japan, UK, Germany and France are the largest shareholders Mission: End extreme poverty on a livable planet Activity: Provides technical expertise, loans, grants and guarantees to countries with low per capita income ― Eligible countries generally have less than $1,315 per capita income Location: Washington, D.C. headquarters; offices in 145 countries. IDA O World Bank International Development Association WORLD BANKGROUP#7BANK FOR INTERNATIONAL WORLD BANK TRUCTION AND DEVELOP IBRD INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Provides loans to governments of middle- income countries. DEVELOPMENT IDA IDA ASSOCIATION INTERNATIONAL DEVELOPMENT ASSOCIATION OVERVIEW Provides loans and grants to governments of lower- income countries. INTERNATIONAL IFC FINANCE CORPORATION IFC INTERNATIONAL FINANCE CORPORATION Promotes development by financing private sector enterprises in developing countries. MULTILATE INVE ESTMENT M.I.G.A. AGENCY MIGA MULTILATERAL INVESTMENT GUARANTEE AGENCY Promotes foreign direct investment into developing countries by offering political risk insurance (guarantees) to investors and lenders. INTERNATIONAL CENTRE ICSID SETTLEMENT OF INVESTMENT ICSID . DISPUTES INTERNATIONAL CENTRE FOR THE SETTLEMENT OF INVESTMENT DISPUTES Provides international facilities for conciliation and arbitration of investment disputes. Issuer of World Bank (IBRD) Bonds Funds raised from donors and IDA Bonds 144A/RegS Issuer of IFC Bonds IBRD, IDA and IFC are all three rated AAA/Aaa. They share the same overall development goals, but are legally separate entities. Each has its own risk profile and capital structure. The World Bank Treasury is the treasury for IBRD and IDA. 6 THE WORLD BANK Treasury#87 ● • IDA'S EVOLUTION Transforming Development Finance 1,700+ projects; US$190+ bn; 100 countries Scaling up to achieve Sustainable Development Goals (SDGs) Capital markets activities to expand lending and impact New financial model includes new loan products and updated financial policies to protect bondholders 2021 IDA inaugural NOK bond 2020 IDA inaugural GBP and SEK bond 2019 IDA inaugural EUR bond 2019 IDA Bills Program 2018 IDA inaugural USD bond 2016 IDA18: 60 countries agreed to US$75bn financing 2016 Receives triple-A credit ratings 2011 IDA ranked #1 of 58 donors in "Publish What You Fund" transparency index 2004 $100 billion in loans outstanding 1980 $10 billion in loans outstanding 1967 $1 billion in loans outstanding 1964 First replenishment: 18 countries committed $753m 1961 Honduras received first IDA financing ($9m) 1960 Established ($912.7m funding) IDA International Development Association WORLD BANK GROUP#9HOW DOES IDA FINANCING WORK? IDA issues bonds in the capital markets to scale up lending to member governments and boost development impact. IDA Shareholders DEVELOPMENT INTERNATIONAL IDA ASSOCIATION Grants Low-cost financing Interest, fees, loan repayments Loan products Projects in Member Countries مرتع 8 Capital Markets Interest, fees, loan repayments IDA International Development Association WORLD BANK GROUP#109 NEW LOAN PRODUCTS & FINANCIAL POLICIES New loan products and financial policies were introduced to protect bondholders and expand resources available to support bond payments. . Expanded range of loan products: Loans for countries transitioning to middle income status, with terms similar to IBRD's. New financial policies: ● Future loan and grant commitments are monitored and adjusted to ensure prudent asset coverage levels. IDA's liquidity covers borrowing and commitment obligations even under extreme stressed conditions, as expected for a triple-A entity. New loan, credit or grant commitments are only approved if IDA has access to capital markets or alternative sources of cash funding. IDA International Development Association WORLD BANK GROUP#1110 OVERLAPPING CRISES The World Bank is responding with impact, speed and scale to help member countries Shocks have had both a deep direct human and economic impact as well as long-term adverse spillovers on developing countries, threatening to reverse decades of development gains. World Bank World Bank Impacts of climate change Lingering pandemic effects World Bank Jorge Villalba/iStock Commodity shocks, food insecurity Wars and persistent fragility IDA International Development Association WORLD BANK GROUP#12PROJECTS MUST MEET STRICT STANDARDS The World Bank works with its member countries COUNTRY'S DEVELOPMENT GOALS COUNTRY PARTNERSHIP FRAMEWORK to design projects that meet their sustainable development needs. All projects are designed to: • • • • Address country-identified priorities Contribute to World Bank goals Meet environmental and social standards Make a positive impact 11 COMPLETION & EVALUATION & SUPPORT IMPLEMENTATION * NEGOTIATIONS & BOARD APPROVAL APPRAISAL SYSTEMATIC COUNTRY DIAGNOSTIC (SCD) IDENTIFICATION ASSESSMENT IDA International Development Association WORLD BANK GROUP#1312 IDA USE OF PROCEEDS Supporting Sustainable Development in IDA's member countries IDA's Sustainable Development Bonds support the financing of a combination of green and social, i.e. "sustainable development", projects, programs, and activities in IDA member countries. Each project is designed intentionally to achieve both positive social and environmental impacts and outcomes in line with the World Bank Group's twin goals of eliminating extreme poverty and promoting shared prosperity. IDA's Sustainable Development Bond Framework describes the process for selecting, evaluating and reporting on eligible Sustainable Development Projects and contains descriptions and examples of such eligible projects. Target Populations: IDA projects aim to protect and empower vulnerable groups, including women and girls, the poor, disabled people, and youth to reduce poverty, improve living standards, and raise income and productivity. 5 Global Themes Ti i Climate Change Fragility, Conflict & Violence Gender Infrastructure, PPPs & Guarantee Knowledge Management IDA International Development Association WORLD BANK GROUP#14SUSTAINABLE DEVELOPMENT BONDS Connecting Investment with Purpose World Bank bonds provide investors with an opportunity to do well by doing good. 13 Bond proceeds support the financing of green and social projects World Bank THE WORLD BANK ENVIRONMENTAL AND SOCIAL FRAMEWORK THE USED FAIE x COUNTRY PARTNERSHIP FRAMEWORK SPESHUIC COLDer писмоторс World Bank supports Environmental Project Cycle sustainable development & Social Standards World Bank Sustainable Development Bonds and Green Bonds are: aligned with the Sustainability Bond Guidelines tagged sustainability bonds on Bloomberg displayed on the Luxembourg Green & Sustainable Exchange 17 Sustainable Development Goals THE WORLD BANK Treasury#1514 SHARED QUALITY, EXPERIENCE AND GOVERNANCE IDA benefits from IBRD's over 70-year track record as an issuer DEVELOPMENT INTERNATIONAL IDA INTERNATIONAL ASSOCIATION BANK FOR WORLD BANK ECONSTRUCTIO AND DEVELOPMENT ✓ Triple-A rated ✓ Same teams manage funding programs, liquidity investments, capital adequacy, and credit and market risks ✓ Same risk governance and oversight ✓ Strong shareholder support ✓ Diversified loan portfolio with strong repayment track record ✓ Shared development goals ✓ Legally separate entities ✓ Separate capital structure IDA International Development Association WORLD BANK GROUP#16FINANCIAL STRENGTH World Bank IDA International Development Association WORLD BANK GROUP#1716 IDA'S BALANCE SHEET In US$ billions as of June 30, 2023 Assets Liabilities and Equity Investments and Cash 33 Market Debt 25 Shareholder Loans 7 Loans Outstanding 187 Other Liabilities (a) 9 Other Assets 7 Equity(b) 186 Total Assets 227 Total Liabilities and Equity 227 a) Includes grant payables of $7 billion (grants approved but not yet disbursed). Grants are recorded as expenses in the income statement, while donor funding for grants is recorded as paid-in capital due to voting rights provision. b) Contributions by IDA members are equivalent to paid-in capital in respect of other MDBs, so references herein to capital and capital adequacy refer to member contributions. IDA International Development Association WORLD BANK GROUP#1817 RISK MANAGEMENT FRAMEWORK IDA's main measure of capital adequacy is Deployable Strategic Capital Capital Adequacy (DSC) which is based on a solvency framework: Quality Loan Portfolio Prudent Risk Management Liquidity Strength of Member Support $46 billion (24%) of capital available for future commitments. IDA benefits from Preferred Creditor Treatment and has a global well- performing loan book. IDA has the same governance structure for risk management as IBRD and benefits from the experience the World Bank Treasury, risk and corporate finance units have built up over 75 years. IDA's liquid assets cover more than 24 months of projected net outflows in liquid assets. Consistent equity increases resulting in exceptionally strong capital base with equity at $186 billion. IDA International Development Association WORLD BANK GROUP#19CAPITAL ADEQUACY FRAMEWORK CAPITAL ADEQUACY QUALITY LOAN PORTFOLIO PRUDENT RISK MANAGEMENT LIQUIDITY STRENGTH OF MEMBER SUPPORT 18 USD billions 200 Risk-adjusted Capital (as of June 30, 2023) 180 160 DSC (24%) 140 Buffer $19 120 100 Actual $191 80 60 Minimum 60 $126 40 40 20 20 0 • • • To protect IDA's financial strength and triple-A rating, IDA uses "economic capital" framework. IDA conservatively estimates all potential losses for all of IDA's activities and assets. The amount of potential losses represents the minimum capital required to support the current portfolio. IDA then holds actual capital above that minimum plus a "conservation buffer". The strength of IDA's capital adequacy is measured by the Deployable Strategic Capital (DSC) ratio, representing the capital available over and above capital needed to support the current portfolio plus a buffer. IDA International Development Association WORLD BANK GROUP#2019 QUALITY LOAN PORTFOLIO CAPITAL ADEQUACY · • • • • • • QUALITY LOAN PORTFOLIO PRUDENT RISK MANAGEMENT Preferred creditor treatment (PCT): clients prioritize obligations to IDA; PCT recognized by rating agencies and financial markets. Policy of freezing new lending and disbursements on all outstanding loans if there are late payments. • IDA borrowers are IDA shareholders. All projects undergo a strict due diligence process. Lending terms based on income level and debt sustainability. Lending limited by the capital requirements as defined by the DSC, to support a triple-A credit rating. Single Borrower Limit set at 25% of equity or US$46 billion as of June 30, 2023. Global diversification. USD billion 50 45 40 30 225322525 20 15 10 0 LIQUIDITY STRENGTH OF MEMBER SUPPORT Top 5 Country Exposures for IDA (as of June 30, 2023) 19 Single Borrower Exposure Limit (SBL) Bangladesh India 18 Pakistan 17 Nigeria 14 Vietnam ει IDA International Development Association WORLD BANK GROUP#21PRUDENT RISK MANAGEMENT CAPITAL ADEQUACY QUALITY LOAN PORTFOLIO PRUDENT RISK MANAGEMENT LIQUIDITY STRENGTH OF MEMBER SUPPORT MOODY'S INVESTORS SERVICE Aaa Long-term rating Outlook: Stable S&P Global Ratings AAA Long-term rating Outlook: Stable • • • IDA benefits from World Bank's 75+ years of capital market experience. IDA's governance structure for risk management is the same as IBRD's. The same teams manage IDA's and IBRD's bond issuance program, risk management and asset-liability and liquidity management operations. Market risks are prudently managed and well capitalized to protect IDA's triple-A rating. IDA follows an ALM policy of matching the interest and currency sensitivity of its assets and liabilities to protect its equity from market rate movements. 20 20 IDA International Development Association WORLD BANK GROUP#22LIQUIDITY CAPITAL ADEQUACY 21 221 • • QUALITY LOAN PORTFOLIO PRUDENT RISK MANAGEMENT LIQUIDITY IDA's prudential minimum liquidity level is set at 80% of 24 months of projected net outflows and is calculated at the beginning of every fiscal year. Actual liquidity exceeds the estimated liquidity requirement to provide financial flexibility in the timing of new debt issuance while meeting obligations. The FY24 prudential minimum liquidity level was set at US$24.7 billion. Portfolio is conservatively managed against strict guidelines. Eligible investments are highly rated fixed income securities rated AA- or better for governments and agencies, and AAA for corporates and ABS (same as IBRD). 45 STRENGTH OF MEMBER SUPPORT Liquid Assets (as of the end of each Fiscal Year) 40 35 34 55 35 32 30 30 25 20 15 11 10 10 39 37 21 21 19 19 16 30 30 5 0 2018 2019 2020 2021 2022 2023 Required Liquidity (US$ bn) Actual Liquid Assets (US$ bn) IDA International Development Association WORLD BANK GROUP#2322 STRENGTH OF MEMBER SUPPORT CAPITAL ADEQUACY Capital Base • • . QUALITY LOAN PORTFOLIO PRUDENT RISK MANAGEMENT As of June 30, 2022, IDA's equity was $186 billion. IDA's equity has consistently increased since 1960 with regular payments from shareholders. IDA has the highest capital base of its peer group. IDA's Equity USD billions 200 150 100 50 0 IDA LIQUIDITY Total Equity (in comparison to its peers) STRENGTH OF MEMBER SUPPORT AFDB USD billions 200 180 160 140 120 100 80 60 40 20 0 FY60 FY70 FY80 FY90 FYOO FY10 FY21 FY22 FY23 ADB IBRD IADB IFC EBRD *ADB, EBRD, and AFDB figures are as of FY22. Largest Shareholders Percentage of votes, as of June 30, 2023 United States 9.7 Japan 8.3 United Kingdom 6.9 Germany France 5.3 3.9 IDA International Development Association WORLD BANK GROUP#24FUNDING World Bank IDA International Development Association WORLD BANK GROUP#25Financial Strength WHY INVEST? • US$186 billion in equity as of June 30, 2023 - largest among peers • • Highest credit rating: Aaa/P-1 (Moody's) and AAA/A-1+ (S&P) Eligibility: 。 0% risk weighted: Basel (link); European Insurance and Occupational Pensions Authority (link); Norwegian Banks (link) O EU Capital Requirement Reg. 2019/876, Art. 1 (57); on list of Multilateral Development Banks; see link 。 ECB: eligible for collateral as "Recognised supranational issuer"; see link o FCA: Designated as "multilateral development bank"; see link Diverse Product Offerings ✓ Purpose MOODY'S INVESTORS SERVICE Aaa Long-term rating Outlook: Stable S&P Global Ratings AAA Long-term rating Outlook: Stable 24 224 IDA International Development Association WORLD BANK GROUP#26IDA'S FUNDING STRATEGY • • . • • Inaugural bond issued in USD in April 2018, followed by benchmarks in Euro, GBP, SEK and NOK. Bills Program launched in March 2019. World Bank Treasury manages the funding program to achieve the best sustainable value and offer investors a broad mix of products. Bond transactions can range from large, liquid benchmarks to smaller, more customized issues for specific investor groups. Annual funding volumes and products depend on IDA's financing needs and market conditions. 25 10 11 9 8 USD billion eq. 7 654 3 ¡li. FY 2020 FY 2021 USD EUR GBP SEK NOK FY 2022 FY 2023 2 1 0 FY 2018 FY 2019 IDA International Development Association WORLD BANK GROUP#2726 IDA'S BORROWING PROGRAMS Bonds: Global Debt Issuance Facility (MTN Program) Facility size: unlimited • Issuer rating: Aaa (Moody's) / AAA (S&P) • Dealers: major international banks • • • Minimum transaction size: typically US$10 million Currencies: EUR, USD, GBP, CNY, JPY, AUD, NZD and others. Maturity: flexible Format: registered notes (Reg S, 144A) or bearer notes (144A) subject to the relevant Reg S and/or 144A restrictions Bloomberg pricing and details: IDAWBG <Govt> Documentation: https://treasury.worldbank.org/en/about/unit/treasury/ida/restricted-access-residency (*) (*) No information on this website or any other websites of the Issuer is incorporated by reference into this document. For more information: IDAInvestor [email protected] IDA International Development Association WORLD BANK GROUP#2827 • • IDA'S BORROWING PROGRAMS Bills: IDA Bills Program (ECP Program) Program size: unlimited Issuer short-term rating: P-1 (Moody's) / A-1+ (S&P) Dealers: BofA Merrill Lynch, Barclays, Citigroup, NatWest Markets Currencies: EUR, USD, GBP, CNY, JPY and others. Minimum transaction size: typically US$5 million • Maturity: 1 to 364 days • Format: Standard ICMA with STEP eligibility • Bloomberg pricing and details: IDABIL Financial information: http://treasury.worldbank.org/en/about/unit/treasury/ida (*) (*) No information on this website or any other websites of the Issuer is incorporated by reference into this document. For more information: IDAInvestor [email protected] IDA International Development Association WORLD BANK GROUP#2928 IDA MARKET TRACK RECORD Currency Amount Coupon 2.75% Settlement Date Maturity Date Lead Managers Press Release Barclays Capital Inc., BNP Paribas, J.P. USD 1.5 billion 4/24/2018 4/24/2023 Semi-Annual Morgan Securities Inc., Nomura International plc Link EUR 1.25 billion 0.00% 10/17/2019 10/19/2026 Crédit Agricole CIB, DZ Bank, JP Morgan, Natixis Link 0.75% Barclays, Citi, NatWest Markets, TD IDA continues to GBP 1.5 billion 1/24/2020 12/12/2024 Link Annual Securities 0.75% Bank of America, HSBC, RBC Europe build a track record USD 1 billion 6/10/2020 6/10/2027 Semi-Annual Limited, Deutsche Bank, SEB, Nomura International plc, TD Securities Link 0.25% Nordea Bank Abp and Skandinaviska with benchmark bonds in various SEK 4.5 billion 6/25/2020 6/25/2025 Link Annual Enskilda Banken (SEB) 0.38% BMO Capital Markets, Citi, J.P. Morgan, TD USD 2 billion 9/23/2020 9/23/2025 Link USD 2 billion currencies and maturities. Semi-Annual 1% Semi-Annual Securities 12/3/2020 12/3/2030 Barclays, Bank of America, RBC Europe Link Limited, HSBC GBP 1 billion 0.375% Annual 2/10/2021 9/22/2027 J.P. Morgan, NatWest Markets, Nomura, TD Securities Link EUR 1.75 billion 0.35% Annual Deutsche Bank, J.P. Morgan, Natixis, 4/22/2021 4/22/2036 Link Société Générale USD 2 billion 0.88% Semi-Annual Citi, HSBC, Morgan Stanley and RBC 4/28/2021 4/28/2026 Link Capital Markets Credit Agricole CIB, DZ BANK, NatWest EUR 2 billion 0.00% 7/15/2021 7/15/2031 Link Markets and TD Securities Barclays Bank PLC, Merrill Lynch GBP 1.5 billion 0.75% Annual 9/21/2021 9/21/2028 International, RBC Europe Limited, TD Global Finance unlimited company Link NOK 2 billion 1.75% Annual 10/26/2021 2/17/2027 DNB Markets and SEB Link EUR 2 billion 0.7% Annual 1/18/2022 1/17/2042 Deutsche Bank, HSBC, J.P. Morgan and Natixis Link EUR 2 billion 1.769% Annual 5/5/2022 5/5/2037 Citi, Credit Agricole, DZ Bank and Morgan Stanley NOK 1.5 billion 2.663% Annual 5/12/2022 5/12/2042 Nordea Bank Abp Link NOK 2 billion 3.33% Annual 6/21/2022 6/21/2027 DNB Link EUR 2 billion 2.50% Annual 9/7/2022 1/15/2038 Bank of America, J.P. Morgan, NatWest Markets and Société Générale Link IDA International Development Association WORLD BANK GROUP#30EXTENDING DURATION WITH 20-YEAR EUR On January 10, 2024, IDA priced a 1.75 billion 20-year Sustainable Development Bond maturing in January 2044. This is the issuer's second 20-year benchmark in euros. Distribution by Geography Distribution by Investor Type 29 Others 5% France 19% United Kingdom 14% Central Banks / Official Institutions 6% Rest of Europe 26% Germany 36% Asset Managers / Insurance / Pension 65% Banks / Bank Treasuries/ Corporates 29% EUR 1.75 billion 20-year Benchmark Issuer Rating: Format: Maturity: Aaa /AAA Reg S 20-year EUR 1.75 billion Amount: Settlement date: Maturity date: Coupon: Issue price: Issue yield: Listing: January 18, 2024 January 18, 2044 3.200% annual Clearing systems: Joint leads: See: link 99.752% 3.217% annual Luxembourg Stock Exchange Euroclear, Clearstream BofA Securities, Credit Agricole CIB, DZ Bank, and J.P. Morgan IDA International Development Association WORLD BANK GROUP#31EXTENDING DURATION WITH 15-YEAR EUR On August 30, 2022, IDA priced a 2 billion 15-year Sustainable Development Bond maturing in January 2038. This transaction builds on IDA's efforts to extend its yield curve. Distribution by Geography Distribution by Investor Type 30 Rest of Europe 29% Asia 3% Central Banks / Official Institutions France 35% 5% Germany 33% Asset Managers / Insurance / Pension 72% Banks / Bank Treasuries / Corporates 23% EUR 2.0 billion 15-year Benchmark Issuer Rating: Format: Maturity: Amount: Settlement date: Maturity date: Coupon: Issue price: Issue yield: Listing: Clearing systems: Joint leads: See: link Aaa /AAA Reg S 15-year EUR 2 billion September 7, 2022 January 15, 2038 2.50% annual 99.391% 2.549% annual Luxembourg Stock Exchange Euroclear, Clearstream Bank of America, J.P. Morgan, NatWest Markets, Société Générale IDA International Development Association WORLD BANK GROUP#3231 GROWING PRESENCE IN GBP On September 14, 2021, IDA priced a GBP 1.5 billion 7-year Sustainable Development Bond maturing in September 2028. The bond marked IDA's third issuance in British pounds, and second in the 7-year tenor since IDA's debut in the capital markets in 2018. Distribution by Geography Americas (ex US) 5% Asia 3% Distribution by Investor Type Central Banks / Asset Managers / Insurance / Official Institutions 29% Pension GBP 1.5 billion 7-year Benchmark Summary Terms and Conditions Issuer Rating: Format: Aaa/AAA Reg S EMEA 22% UK 23% 70% Banks / Bank Treasuries / Corporates 48% See: link Maturity: Amount: Settlement date: Maturity date: Coupon: Issue price: Issue yield: Listing: Clearing systems: Joint leads: 7-year GBP 1.5 billion September 21, 2021 September 21, 2028 0.75% p.a. 99.827% 0.775% annual Luxembourg Stock Exchange Euroclear, Clearstream Barclays Bank PLC, Merrill Lynch International, RBC Europe Limited, TD Global Finance unlimited company IDAI International Development Association WORLD BANK GROUP#33FIRST IDA BOND IN NORWEGIAN KRONE On October 29, 2021, IDA made its debut in Norwegian krone with a 5-year benchmark bond that raised NOK 2 billion. The bond marked IDA's 5th issuing currency. Distribution by Geography Distribution by Investor Type 32 Europe (non- Nordics) 14% Asia 3% Denmark 25% Norway 58% Central Banks/Official Institutions 10% Asset Managers 32% O NOK 2 billion 5-year Benchmark Summary Terms and Conditions Issuer Rating: Format: Aaa/AAA Reg S Maturity: Banks/Bank Treasuries 58% Amount: Settlement date: Maturity date: Coupon: Issue price: Issue yield: See: link Listing: Joint leads: 5-year NOK 2 billion October 26, 2021 February 17, 2027 1.750% p.a., paid annually in arrear 99.757% 1.799% annual Luxembourg Stock Exchange DNB Markets and Skandinaviska Enskilda Banken (SEB) IDA International Development Association WORLD BANK GROUP#3433 INVESTING FOR IMPACT ✓ Global development impact: 100 countries; broad range of sectors; one of the most effective ways to help countries achieve the Sustainable Development Goals. ✓ Unique mandate, technical expertise, and resources to respond to complex global challenges and provide financial support to some of the fastest-growing economies. ✓ Investments bring positive spillovers, especially in areas affected by conflict and fragility, contributing to global growth and security. ✓ Long-term partnership: emphasizing long-term growth and capability to ensure sustainability of results. 种 * Climate Change Gender & Development Governance & Institutions Jobs & Economic Transformation Fragility, Conflict & Violence IDA International Development Association WORLD BANK GROUP#35IDA AT WORK World Bank IDA International Development Association WORLD BANK GROUP#3635 S IMPACT: TRACK RECORD Leader in transparency, openness and accountability: first multilateral to establish performance-based management of resources and to adopt a results measurement framework. Strong Track Record of Results For example, results in fiscal years 2011-2022 included the following: * 1,089 million people received essential health services 14 million teachers were recruited and/or trained ✓ 134 million people received access to improved water sources * 437 million children were immunized See: https://ida.worldbank.org/en/topics IDA International Development Association WORLD BANK GROUP#37ANNEX: PROJECT STORIES O World Bank IDA International Development Association WORLD BANK GROUP#38QUALITY EDUCATION сл 5 GENDER EQUALITY World Bank For more information: https://projects.worldbank.org/en/projects- operations/project-detail/P151451?lang=en 37 GENDER & DEVELOPMENT Zambia: Girl's Education and Women's Empowerment and Livelihood Project . • Development Challenge: Poverty remains high in Zambia, particularly in rural areas. Including women and girls is a key part of the government's plan to reduce poverty and the vulnerability of the poor: Women's educational attainment is very low and keeping girls in school at higher grades remains a challenge >90% of women in rural areas are involved in informal agricultural employment; 45% are unpaid Most women farm only at subsistence levels and are not productive enough to sustain viable agribusinesses Purpose: Support the Government of Zambia to increase access to livelihood support for women and access to secondary education for disadvantaged adolescent girls in extremely poor households in selected districts. Expected Results (include): 43,520 girls (ages 14-18 years old) enrolled in secondary school 129,400 women receive support for improved livelihoods • 90% of women participating in savings groups • 6,750 community volunteers trained as trainers IDA Financing: $207 million Closing: 2024 IDA International Development Association WORLD BANK GROUP#399 INDUSTRY. INNOVATION AND INFRASTRUCTURE N 16 PEACE, JUSTICE AND STRONG INSTITUTIONS NSE World Bank For more information: https://projects.worldbank.org/en/projects- operations/project-detail/P160758?lang=zh 38 GOVERNANCE & INSTITUTIONS Bangladesh: Digitizing Implementation Monitoring and Public Procurement Project Development Challenge: Every year, the government of Bangladesh spends around $10 billion dollars on public procurement, a major part of its annual development program. In the past, no uniform regulatory framework for procurement existed, creating challenges: • • . Inefficiencies and inappropriate use of funds reportedly cost the country over 1.5% of GDP growth a year. Outdated, lengthy, confusing and complex bureaucratic processes made public procurement cumbersome. Purpose: Improve public procurement performance and enhance capacity for implementation monitoring of development programs/projects. With support from IDA, Bangladesh introduced systematic changes to transform its public procurement environment, including a transformational electronic government procurement (e-GP) system. It has reduced contract processing time, increased competition, and enhanced transparency. • Expected Results (include): 70% reduction in procurement lead time in the National Competitive Bidding process by using an electronic government procurement system Sustainable procurement policy and implementation roadmap developed 1,000 procurement professionalization/accreditation certificates issued IDA Financing: $55 million Closing: 2023 IDA International Development Association WORLD BANK GROUP#40DECENT WORK AND ECCHEMIC GROWTH M 16 PEACE, JUSTICE AND STRONG INSTITUTIONS World Bank For more information: https://projects.worldbank.org/en/projects- operations/project-detail/P152512 39 FRAGILITY & CONFLICT Central African Republic: LONDO Project Development Challenge: CAR is one of the poorest and most fragile countries in the world. The conflict, which began in 2012, shattered its already-frail economy, tore its social fabric, and created a devastating humanitarian, human rights, and security crisis. • . 25% of the population was displaced: 1 million internally; 200,000+ in neighboring countries Infrastructure, including schools and healthcare centers, were destroyed Public wages were suspended Purpose: Provide temporary employment to vulnerable people and facilitate access to basic services throughout the entire territory. Facilitate peacebuilding and stabilization by providing short-term jobs to men and women in the country. Promote entrepreneurship by providing bicycles as transportation to worksites and encouraging beneficiaries to save part of their salaries to start a business. . • . Expected Results (include): 148,749 beneficiaries reached; 40% women 124 districts covered 6,975,895 days of work gained for men 4,663 kms of roads repaired IDA Financing: $20 million Closing: 2024 IDA International Development Association WORLD BANK GROUP#41CORD HEAS AUD WELL BEING M World Bank For more information: https://projects.worldbank.org/en/projects- operations/project-detail/P173760 40 HEALTH Nepal: COVID-19 Emergency Response and Health Systems Preparedness Project Development Challenge: While Nepal received IDA support at the onset of the pandemic, additional financing was needed to support vaccine procurement. Waves of the pandemic further strained the healthcare system and reduced supplies of necessary healthcare equipment. Purpose: Prevent, detect and respond to the threat posed by COVID-19 and strengthen national systems for public health preparedness in Nepal. Support the government of Nepal in purchasing and deploying safe and effective COVID-19 vaccines and ensure affordable and equitable access to vaccines. Project financing also supports technical assistance and training for administrating the vaccine and increasing access to cold chain technology. Expected Results (include): • 40% of prioritized population fully vaccinated • Close 60% of cold-chain capacity gaps. • 60% of female community health volunteers fully vaccinated 96 laboratories with COVID-19 diagnostic equipment, test kits, and reagents IDA Financing: $104 million Closing: 2024 IDA International Development Association WORLD BANK GROUP#4220 555 GORDHEAS AND WELL BEING GENDER EQUAL TY 13 CUMATE ACTION For more information: World Bank club https://www.worldbank.org/en/region/sar/overview#2 SOUTH ASIA IDA Supporting Growth and Resilience Development Challenge: Recovery from the COVID-19 pandemic in South Asia remains fragile and uneven, and most countries are far from pre-pandemic trend levels. South Asia's average annual growth is forecast to be 3.4% over 2020-23, 3% less than it was in the four years preceding the pandemic. It is estimated that 48-59 million South Asians became or remained poor in 2021 due to COVID-19. World Bank Strategy: • The World Bank approved $10.9 billion in lending to the region in FY21, including $7.1 billion in IDA commitments; totaling 21 billion since March 2020 Delivered 82 advisory services and analytical products to eight countries, totaling $47 million in FY21 Provide technical advice on issues including: pandemic preparedness and vaccination, debt management, job creation and female labor force participation, disaster risk management, and climate resilience Expected Results (include): 807 million vulnerable people from poor households benefited from $2.73 billion of funding that supported direct cash transfers to buy food and medical supplies $2.5 billion provided for health projects to help establish or equip more than 23,000 hospitals and healthcare centers to care for COVID-19 patients $5.5 billion of climate finance in the region since March 2020 $1 billion to support vaccine purchase and deployment in five South Asian countries; 1.6 million doses have already been delivered IDA International Development Association WORLD BANK GROUP 41#4342 CONTACT US Internet: Phone: Fax: Email: Address: https://treasury.worldbank.org/ +1 202 477 2880 +1 202 477 8355 IDAInvestor [email protected] 1818 H Street N.W. MSN C7-710 Washington, DC 20433, USA Pricing Sources Bloomberg Discount Notes IDAWBG <Govt> <Go> and IDABIL <Go> WBDN <Go> IDA International Development Association WORLD BANK GROUP#44THE WORLD BANK IDA Acknowledgements and Disclaimers END POVERTY END POVERTY Bilanol/iStock. World Bank Photos, graphics and content © The World Bank and as noted. Cover photo credits (from left to right): Artush/iStock, Chris de Beer-Procter/iStock, This presentation has been prepared by IDA (International Development Association) for information purposes only, and IDA 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. No Offer or Solicitation Regarding Securities. This presentation may include information relating to certain IDA securities. 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