#1WORLD BANK BONDS FOR SUSTAINABLE DEVELOPMENT INTERNATIONAL BANK FOR WORLD BANK RECONSTRUCTION AND OPME#2ROADMAP What is the World Bank? Why invest with the World Bank? What investment products does the World Bank offer? How is the World Bank engaging with investors on the Sustainable Development Goals? Annex: Project stories THE WORLD BANK Treasury#3WHAT IS THE WORLD BANK? O World Bank THE WORLD BANK Treasury#4WORLD BANK INTRODUCTION 3 • International organization owned by 189 member countries - its owners are its clients. Purpose is to end extreme poverty on a livable planet. These goals align with the Sustainable Development Goals. The world's largest source of development finance and expertise - 75+ years of financing development projects. About $240 billion in loans outstanding to 77 countries. Nearly 12,000 staff in 136 offices. Headquarters in Washington, DC. Largest shareholders: US, Japan, China, Germany, France, and the UK. International Bank for Reconstruction and Development - IBRD, known as "World Bank" in the capital markets, is rated AAA/Aaa based on its capital, reserves and prudent financial policies. World Bank World Bank Headquarters Washington, DC THE WORLD BANK Treasury#54 HISTORY OF THE WORLD BANK IBRD was created in 1944 to rebuild Europe after World War II and was soon referred to as the "World Bank". . • IBRD was designed to be financially self-sustaining and earn income to support its development activities. First loans were made to developed countries for reconstruction purposes. IBRD's focus shifted towards poverty alleviation in the 1960s and it continued to lend to countries that were creditworthy and could borrow at market-based rates. In the 2020s an explicit focus on global public goods led to adding "on a livable planet" to the vision. BRETTON WOODS MONETARY CONFERENCE In 1944 the United States government chose the Mount Washington Hotel as the site for a gathering of representatives from 44 countries. This was to be the famed Bretton Woods Monetary Conference. The Conference established the World Bank, set the gold standard at $35.00 an ounce, and chose the American dollar as backbone of International exchange. The meeting provided the world with a badly needed post war currency stability. THE WORLD BANK Treasury#6LATIONAL BANK K FOR WORLD BANK STRUCTION AND DEVELOP IBRD INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Provides loans to governments of middle- income countries. TERNATIONAL INT DEVELOPMENT IDA IDA ASSOCIATION INTERNATIONAL DEVELOPMENT ASSOCIATION OVERVIEW INTERNATIONAL IFC CORPORATION Provides loans and grants to governments of lower- income countries. FINANCE IFC INTERNATIONAL FINANCE CORPORATION Promotes development by financing private sector enterprises in developing countries. MULTILATER NVESTMENT. M.I.G.A. ANTEE AGENCY MIGA MULTILATERAL INVESTMENT GUARANTEE AGENCY Promotes foreign direct investment into developing countries by offering political risk insurance (guarantees) to investors and lenders. INTERNATIONAL NTRE FOR. 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. 5 THE WORLD BANK Treasury#7SUSTAINABLE DEVELOPMENT BONDS All World Bank bonds support sustainable development. They offer investors the opportunity to invest in financial products with a high credit rating while supporting projects with positive impact 6 01 O World Bank Goals of the World Bank Group 02 World Bank Project Results 03 93 Sustainable Development Goals (SDGs) THE WORLD BANK Treasury#87 THE WORLD BANK BUSINESS MODEL How World Bank Projects are Financed Private Investors Bond Proceeds Principal + Interest THE WORLD BANK Financing for Borrowing Member Countries Paid-in Capital + Reserves Strong balance sheet, prudent risk management & capital supports triple-A rating Principal + Interest Financing and knowledge supports projects across sectors Agriculture Education Energy & Extractives Financial Sector Health Industry & Trade Info & Communications Public Administration Social Protection Transportation Water/Sanitation/Waste THE WORLD BANK Treasury#98 PROJECTS 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 COMPLETION & EVALUATION * & SUPPORT IMPLEMENTATION NEGOTIATIONS & BOARD APPROVAL APPRAISAL SYSTEMATIC COUNTRY DIAGNOSTIC (SCD) IDENTIFICATION ASSESSMENT THE WORLD BANK Treasury#10OVERLAPPING 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 O World Bank Jorge Villalba/iStock Impacts of climate change 9 Lingering pandemic effects Commodity shocks, food insecurity Wars and persistent fragility THE WORLD BANK Treasury#1110 EVOLUTION PROCESS Transforming the World Bank to Leverage its Impact The World Bank and other Multilateral Development Banks (MDBs) are increasingly important in addressing global challenges such as poverty, shared prosperity, inclusion, resilience, sustainability, and cross-border issues like climate change, pandemics, and conflict and violence. The three building blocks of the World Bank's Evolution Process: Vision & Mission Our new vision is to create a world free of poverty on a livable planet and our new mission is to end extreme poverty and boost shared prosperity on a livable planet by strengthening inclusion, resilience, and sustainability. Operating Model We are introducing enhancements to our country engagement model, analytics, financing instruments, and incentives, to focus more on outputs rather than inputs. Financial Model While maintaining the triple-A credit rating that allows us to efficiently leverage shareholder equity, we have been making available more resources through balance sheet optimization and we are attracting more funds for increasing our equity (e.g. through hybrid capital), as well as more resources for concessional funding. THE WORLD BANK Treasury#1211 FOCUS ON GLOBAL CHALLENGES The World Bank's shareholders support focus on global goals The World Bank is committed to addressing the most pressing global challenges faced by our member countries. Our focus areas encompass a wide range of critical issues: Climate Energy Change Access Food, Nutrition & Mitigation Security Water Security & Access Protecting Biodiversity & Nature Pandemic Prevention & Preparedness Fragility & Conflict Enabling Digitization and Adaptation THE WORLD BANK Treasury#1312 WORLD BANK GROUP'S CLIMATE CHANGE ACTION PLAN Aligning with the Paris Agreement, increasing Climate Finance World Bank to be Paris Aligned by July 1, 2023 Definition Provision of support to clients that is consistent with pathways towards equitable, sustainable, low-carbon, and climate- resilient development Country Circumstances Paris Agreement gives countries latitude in the pathways they choose based on country circumstances in integrating climate and development World Bank Group to Increase Overall Flows to Climate With at least 50% of climate financing going to adaptation World Bank Group Climate Finance ($ billion): $38.6B FY23 World Bank Group Climate Finance Target (%): 35% FY21-25 target 26% FY16-20 average delivered Adaptation Ensuring physical risk mitigation measures are fully embedded in project design THE DEVELOPMENT PODCAST PARIS2015 US CLIMATE CHANGE CONFERENCE COP21.CMP11 Mitigation Ensure investments support limiting global warming to well below 2 degrees, recognizing that peaking of GHG emissions will take longer for developing countries Learn more about the World Bank's Climate Change Action Plan (link) $21.4B FY21 *Institutions of the World Bank Group that contribute climate benefits include: IBRD, IDA, IFC and MIGA and averaged together. THE WORLD BANK Treasury#1413 ☑ CLIMATE ACTION CUTS ACROSS SECTORS 100% of all IBRD projects are screened for climate risk and impact 92% of all IBRD projects (by #) had climate financing in FY23, representing 41% of all commitments (by dollar value) Climate Results Cut Across all World Bank Sectors Energy & Extractives Agriculture Urban Resilience & Land Transport Water Environment, Natural Resources & Blue Economy Social Sustainability & Inclusion Finance & Competitiveness Governance Trade Poverty & Equity Education Health, Nutrition and Population Social Protection Digital Development THE WORLD BANK Treasury#15WHY INVEST WITH THE WORLD BANK? Bru_Greg/iStock THE WORLD BANK Treasury#16• 15 KEY FEATURES OF WORLD BANK BONDS lili. Decades in capital market, wide range of products Issuing debt since 1947; triple-A rating since 1959 Fixed income products in multiple currencies, structures and maturities • • Special Features 0% Basel II and III risk weighting minimizes capital requirements Liquid bonds are classified as "Level 1 HQLA" (high quality liquid assets) . • Safety Strong balance sheet as a result of prudent financial policies Funds only for sovereigns/ sovereign-guaranteed projects . Development Mandate The World Bank's sustainable development programs aim to achieve positive social and environmental impacts in member countries THE WORLD BANK Treasury#1716 WHY INVEST? SECURITY AAA/Aaa Credit rating G ك الدولي Conservative Financial Policies ⚫ States only as borrowers • • Limits for individual countries • • Borrowers are also shareholders Preferred creditor status Conservative Risk Management • Fixed credit limits • Equity to loans ratio granted only takes into account the equity paid in Strict and conservative investment policy Solid Capital Structure • Equity US$60 bn (FY23) • . Callable capital US$296 bn (FY23) 189 government shareholders • 2018 capital increase of US$7.5 bn increases borrowing capacity • High Liquidity Target liquidity level is 12 months coverage (US$59 bn in FY24) Actual liquidity exceeds target (US$75 bn in FY23) Bond portfolio with securities rated AAA/AA THE WORLD BANK Treasury#1817 BALANCE SHEET STRUCTURE Key Balance Sheet Items (as of June 30, 2023, in billions US$) Loans Outstanding (a) US$241 Borrowings US$237 Investments (b) US$80 Other US$12 US$333 Equity US$60 Other US$36 US$333 Assets Liabilities & Equity (a) Net of accumulated loan loss provision and deferred loan income (b) Investments and due from banks; of this amount, the liquidity portfolio is US$75billion THE WORLD BANK Treasury#19WORLD BANK'S STRONG CREDIT QUALITY DIVERSIFIED SHAREHOLDER BASE QUALITY LOAN PORTFOLIO PRUDENT RISK MANAGEMENT 18 • . Global diversification Lending only to sovereign or sovereign-guaranteed projects • Borrowing clients are also shareholders; increased incentive to repay Preferred creditor treatment - borrowing clients prioritize financial obligations to the World Bank - recognized by 10 GN NW 25 20 15 30 • rating agencies and financial market participants Policy of freezing additional lending if payments not on time 0 Single Borrowing Limits (SBL) for individual countries Graduation Discussion Income (GDI) is the level of per capita income of a member country above which graduation from IBRD starts being discussed. SUBSTANTIAL LIQUIDITY Top 10 Country Exposures for IBRD (as of June 30, 2023, US$ billions) India Indonesia Brazil Mexico Colombia China Egypt Philippines Türkiye Argentina $28 billion SBL for highly creditworthy countries below the GDI $21.2 billion SBL for highly creditworthy countries above the GDI THE WORLD BANK Treasury#2019 DIVERSIFIED SHAREHOLDER BASE WORLD BANK'S STRONG CREDIT QUALITY QUALITY LOAN PORTFOLIO PRUDENT RISK MANAGEMENT Shareholder Support IBRD bonds are supported by the strength of its balance sheet and support of its 189 sovereign shareholders Largest Shareholders • United States, 16.64% Japan, 7.59% China, 5.88% • Germany, 4.50% . France, 4.12% United Kingdom, 4.12% By percentage of total subscription as of June 30, 2023 SUBSTANTIAL LIQUIDITY Total Subscribed Capital US$ billions as of June 30, 2023 Paid-in Capital Callable Capital Subscribed Capital US$21.8 US$296.0 US$317.8 Callable Capital • • • The World Bank's financial policies are designed to minimize the need for a call on capital and key management tools like the Equity-to-Loans ratio targets do not take callable capital into account. No call has ever been made on a callable capital. Callable capital can only be called to satisfy debt obligations. Shareholders are responsible for the full amount of their callable capital subscription regardless of ability to fulfill their obligations. THE WORLD BANK Treasury#21DIVERSIFIED WORLD BANK'S STRONG CREDIT QUALITY SHAREHOLDER BASE QUALITY LOAN PORTFOLIO PRUDENT RISK MANAGEMENT Equity-to-Loans Ratio (US$ billions; FY23) SUBSTANTIAL LIQUIDITY $241 $296 Callable Capital • · • Conservative financial policies are designed to minimize the need for a call on capital. Key risk management indicators do not factor in callable capital ($296 billion) to determine IBRD's risk-bearing capacity. The key risk tolerance indicator, Equity-to-Loans Ratio is set at a policy minimum of 19%. As of June 30, 2023, the total outstanding amount of loans made by IBRD was $241 billion to useable equity of $53 billion (E/L Ratio of 22%). FX and interest rate risks managed carefully to minimize risks. Outstanding Loans 20 20 22% $53 Useable Equity (Reserves +Paid-In Capital) THE WORLD BANK Treasury#2221 DIVERSIFIED SHAREHOLDER BASE WORLD BANK'S STRONG CREDIT QUALITY QUALITY LOAN PORTFOLIO PRUDENT RISK MANAGEMENT SUBSTANTIAL LIQUIDITY • · The target liquidity level represents 12 months coverage as 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 target liquidity level was set at US$59 billion, US$5 billion higher than FY23 Target Liquidity Level due to higher projected debt service for FY24. Liquidity portfolio is conservatively managed against strict guidelines. Eligible investments are highly rated fixed income securities rated AA- or better for governments and agencies, and AAA for corporates and ABS. 34 21 21 28 21 21 34 4 22 333 Liquid Assets (as of the end of each Fiscal Year) 51 45 42 25 26 28 28 5 83 79 80 79 75 72 70 66 68 57 549 54 99 56 52 52 22 ။ 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 ■Required Liquidity (US$ bn) Actual Liquid Assets (US$ bn) THE WORLD BANK Treasury#23WHAT INVESTMENT PRODUCTS DOES THE WORLD BANK OFFER? Anmuelle/iStock THE WORLD BANK Treasury#2423 FUNDING STRATEGY Meet Investors' Needs ● . Offer a wide range of debt instruments from a AAA/Aaa issuer, with various characteristics including flexible structures, size, liquidity and maturities. Customize products to meet investor preferences Maturities up to 50 years. • A 0% Basel II and III risk weighting minimizes capital ● ● requirements. Liquid bonds are considered level 1 HQLA (high quality liquid assets). Bonds have 'green' or 'sustainability' bond tag in Bloomberg High Execution Standards · . Broad sponsorship from underwriters with solid primary placement with a diversified investor base. Strong aftermarket spread performance for liquid bonds. THE WORLD BANK Treasury#25FUNDING PROGRAM Investors have a wide choice of products to chose from 良 a Products Global & Benchmark Bonds Non-Core Currency Liquidity Bonds Diversification Structured Notes & Callable Bonds Capital-at-Risk Notes Discount Notes Customization Extra Yield Potential Cash Management USD 65% EUR 15% 60 80 70 876 50 40 30 Other 20 20% 10 0 Fiscal Year 2023 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 24 Note: Trade date FX rates used for converting non-USD currencies to USD equivalents. Structured/ Risk Transfer Notes ■ Other/ Plain Vanilla Bonds ■ Benchmark/Global Bonds THE WORLD BANK Treasury#26SUSTAINABLE DEVELOPMENT BONDS Connecting Investment with Purpose World Bank bonds provide investors with an opportunity to do well by doing good. 25 25 Bond proceeds support the financing of green and social projects World Bank THE WORLD BANK ENVIRONMENTAL AND SOCIAL FRAMEWORK COUNTRY PARTNERSHIP FRAMEWORK TEC COLUME DIACHASTIC x THE WORLD FASE ACARD APPROVAL SORATION & 121 ARNGASSAL 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#2726 IBRD USE OF PROCEEDS Supporting Sustainable Development in IBRD Member Countries World Bank Sustainable Development Bonds support the financing of a combination of green and social, i.e., "sustainable development", projects, programs, and activities in IBRD 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. The World Bank'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: World Bank 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 Climate Change Fragility, Conflict & Violence Gender Infrastructure, PPPs & Guarantee Knowledge Management THE WORLD BANK Treasury#2827 GLOBAL BONDS The World Bank offers global bonds in a variety of currencies and maturities through strategic offerings designed to meet investor demand. . Global Bonds provide: Investors with liquidity and strong dealer commitment to secondary market support - Diversification among triple-A holdings and benefit from a rarity value in the marketplace Characteristics: Issue size is typically US$1-4 billion, or benchmark size for each market; largest benchmark was US$8 billion - Maturities generally range between 2-10 years - Denominated in a variety of currencies, incl. USD, EUR, GBP, CAD, AUD, NZD World Bank bonds are represented in major indices Pricing and other bond details: Bloomberg: IBRD <Govt> <Go> or IBRD <Go> THE WORLD BANK Treasury#2928 GLOBAL BOND EXAMPLE AUD 2 Billion 5-year Sustainable Development Bond On January 3, 2024, the World Bank (IBRD) priced its first benchmark of 2024 - an Australian dollar 2 billion 5-year bond due January 10, 2029. The transaction attracted over 50 orders totaling more than AUD 2.4 billion from investors drawn to IBRD's high credit quality while supporting the World Bank's mission. Distribution by Geography Distribution by Investor Type AUD 2 billion 5-year bond Summary Terms and Conditions Asia 56% Central Banks / Official Institutions 37% Australia 22% Europe/ Middle East/Africa 22% Banks/Bank Treasuries/Corporates 38% Issuer Rating: Maturity: Total Amount: Aaa/AAA 5-year Asset Managers/Insurance /Pension Funds 25% Settlement Date: Maturity Date: Coupon: Joint Lead managers: AUD 2 billion 01/10/2024 01/10/2029 4.30% p.a. payable semi-annually Deutsche Bank, JP Morgan, Nomura International plc, RBC Capital Markets Press Release: AUD 2 Billion 5-year Sustainable Development Bond Net proceeds of the bonds described herein are not committed or earmarked for lending to, or financing of, any particular projects or programs, and returns on the bonds described herein are not linked to the performance of any particular project or program." THE WORLD BANK Treasury#3029 GLOBAL BOND EXAMPLE USD 5 billion 7-year Sustainable Development Bond On January 3, 2024, the World Bank (IBRD) priced a 7-year benchmark bond that matures in January 2031. The Sustainable Development Bond raised USD 5 billion from investors seeking to support the World Bank's work to end extreme poverty and boost prosperity on a livable planet. Distribution by Geography Distribution by Investor Type USD 5 billion 7-year Bond Summary Terms and Conditions Americas Central Banks / Official Institutions Issuer Rating: 35% Aaa/AAA 26% Europe/ Middle East/Africa 56% Asia 18% Banks/Bank Treasuries/Corporates 49% Asset Managers/Insurance /Pension Funds 16% Net proceeds of the bonds described herein are not committed or earmarked for lending to, or financing of, any particular projects or programs, and returns on the bonds described herein are not linked to the performance of any particular project or program." Maturity: Total Amount: Settlement Date: Maturity Date: Coupon: Leads: Senior co-lead managers: 5-year USD 5 billion 01/10/2024 01/10/2031 4.00%, payable semi-annually Barclays Bank PLC, BMO Capital Markets, BNP Paribas, Citigroup Global Markets CastleOak Securities, L.P., Daiwa Capital Markets Europe Limited, National Bank of Canada Financial Inc. and The Bank of Nova Scotia, London Branch USD 5 billion 7-year Sustainable Development Bond THE WORLD BANK Treasury#3130 GLOBAL BOND EXAMPLE CAD 1.4 Billion 5-year Sustainable Development Bond On January 3, 2024, the World Bank (IBRD) priced a new 5-year CAD 1.4 billion benchmark that matures in January 2029. Distribution by Geography Americas 48% Asia 34% Europe/ Middle East/Africa 18% Distribution by Investor Type Central Banks / Official Institutions 55% O Banks/Bank Treasuries/Corporates 34% Asset Managers/Insurance /Pension Funds 11% CAD 1 billion 5-year bond Summary Terms and Conditions Issuer Rating: Maturity: Total Amount: Settlement Date: Maturity Date: Coupon: Joint Lead managers: Aaa/AAA 5-year CAD 1.4 billion 01/12/2024 01/12/2029 3.50% per annum CIBC, RBC Capital Markets, National Bank Financial Inc., TD Securities Press Release: CAD 1.4 Billion 5-year Sustainable Development Bond Net proceeds of the bonds described herein are not committed or earmarked for lending to, or financing of, any particular projects or programs, and returns on the bonds described herein are not linked to the performance of any particular project or program." THE WORLD BANK Treasury#3231 GLOBAL BOND EXAMPLE GBP 1.5 billion 5-year Sustainable Development Bond On January 4, 2024, the World Bank (IBRD) priced a 5-year British pound sterling (GBP) benchmark bond due October 2028. The Sustainable Development Bond raised an impressive size of GBP 1.5 billion from investors to support the financing of the World Bank's work to fund sustainable development solutions in its member countries. Distribution by Geography Europe/Middle East 6% Americas 3% Distribution by Investor Type GBP 1.5 billion 5-year Bond Summary Terms and Conditions Central Banks / Official Institutions 53% Issuer Rating: Maturity: Total Amount: Aaa/AAA 5-year GBP 1.5 billion United Kingdom 59% Asia 32% Bank Treasuries / Banks/ Corporates 25% Asset Managers / Pension / Insurance 22% Net proceeds of the bonds described herein are not committed or earmarked for lending to, or financing of, any particular projects or programs, and returns on the bonds described herein are not linked to the performance of any particular project or program." Settlement Date: Maturity Date: Coupon: 01/11/2024 10/02/2028 3.875% p.a. Leads: Citigroup, NatWest Markets, Santander and TD Securities GBP 1.5 billion 5-year Global Benchmark Bond THE WORLD BANK Treasury#3332 GLOBAL BOND EXAMPLE EUR 3 billion 10-year Sustainable Development Bond On February 6, 2024, the World Bank (IBRD) priced a EUR 3 billion 10-year Sustainable Development Bond. This transaction attracted over 100 orders totaling Euro 4.7 billion from European and global investors seeking high credit quality and an investment that supports sustainable development at the longer end of the EUR curve. Distribution by Geography Germany 16% Distribution by Investor Type EUR 3 billion 10-year Bond Summary Terms and Conditions Other 13% Rest of Europe 47% France 24% Banks/Bank Treasuries/Corporates 58% Central Banks Issuer Rating: / Official Institutions 17% Asset Managers/Insurance/ Pension Funds 25% Maturity: Total Amount: Settlement Date: Maturity Date: Coupon: Leads: Aaa/AAA 10-year EUR 3 billion 02/14/2024 02/14/2034 2.900% p.a., payable annually BNP Paribas, NatWest Markets, Nomura, TD Securities EUR 3 billion 10-year Sustainable Development Bond Net proceeds of the bonds described herein are not committed or earmarked for lending to, or financing of, any particular projects or programs, and returns on the bonds described herein are not linked to the performance of any particular project or program." THE WORLD BANK Treasury#3433 GLOBAL BOND EXAMPLE SOFR-Linked Floating Rate Bond On February 15, 2024, the World Bank (IBRD) priced a USD 1.25 billion Sustainable Development Bond linked to the Secured Overnight Financing Rate (SOFR). The transaction attracted over 30 orders totaling USD 1.4 billion from a diverse set of investors seeking a high credit quality investment while supporting sustainable development. Distribution by Geography Americas O Europe/Middle East/Africa 50% Asia 18% 32% Distribution by Investor Type Bank Treasuries / Banks/Corporates 49% USD 1.25 billion 3-year Bond Summary Terms and Conditions Central Banks / Official Institutions 35% Issuer Rating: Aaa/AAA Maturity: Total Amount: Settlement Date: 3-year USD 1.25 billion Asset Managers / Pension / Insurance 16% Net proceeds of the bonds described herein are not committed or earmarked for lending to, or financing of, any particular projects or programs, and returns on the bonds described herein are not linked to the performance of any particular project or program." Maturity Date: Coupon: Leads: 02/23/2024 02/23/2027 Compounded Daily SOFR + 28 basis points Wells Fargo Securities, BMO Capital Markets, Scotiabank USD 1.25 billion SOFR-Linked Floating Rate Bond THE WORLD BANK Treasury#3534 DISCOUNT NOTES ● • . The World Bank offers flexible and customized short-term debt instruments through its USD Discount Notes Program using simple documentation (Offering Circular). Discount Notes are offered in the United States and Eurodollar markets. Rates for World Bank Discount Notes are posted on Bloomberg's "ADN" page under the World Bank option ("WBDN"). Discount Notes characteristics: • maturities of 397 days (13 months) or less. aggregate face amounts of US$50,000 and higher per maturity date Offering Circular International Bank for Reconstruction and Development WORLD BANK DISCOUNT NOTES The World Bank officially known as the International Bank for Reconstruction and Development (the Bank incrds to offer onocebesis es Dod News 397 days or less a dostal is entas ci incron-bearing ban The Duont Nones are offered though a group of dealer coasting for the date hocef) of Barclaya Capta ke Ceale Securies, 1P FIN Freial Cepal Makeb, lefisies LC,P Manger Sevates ECM Scenic USA Inc UBS Secates LLC and Wells Fargo Secunties LLC the Dealen Deaks may be added or need to time to tie at the daccion of the Bank. The Bank ray also offer and sell Dacas: Noies directly to sana on hchall The Dirt Nites y bebe Used Stand Fadlakes The Dedes will out toy caste's one far Ducam Natce to be mad by the tank far la than $50,000 aggregccmarurity dric. Discount Not availabl in deities of Sandiegol watiples theef The state of Det his offered by the Bad and the decustode for various matice will be crashed from time to tree by the think Information as to the manties aabble and vach dacous as well as the negligeet Biscret Neles to be sekl as an icent being may be lice Each of the Dealhundertaken to the Bank to be fit to a secondary market for the Du Notes The Folnal Reave Bank of New Yak has Fox Agnt of the Hak will respect to De Noepsatoa Froil Agency Agromen Cheriginal onance, all Decore Notes dhe asacd only in bock-nary form through the office of the Pacal Agen in New York Desoura Nors will be held by lolding a degrated by the Dealen inclading JPMorgan Chase Blanc NA and Cak NA depas is Fueles Bak SA/NV de Face System, Class Banking, anaye respectively. Autor engan umance, Ducers Nets will connecto be add by wach sliding In lo perdes gf the beef it Do No Holding bikin Paste the pachne price is Discount Nans and payment of Deore Notas at mutatty ane to be reade in immediatly available funds to access of leiding October 6, 2005 THE WORLD BANK Treasury#36T end povert மரா 91 World Bank Headquarters, Washington, DC 35 BUYBACK PROGRAM World Bank ● • ● ● The World Bank buys back its own bonds through dealers on a reverse enquiry basis. Program is designed to offer backstop liquidity to investors and covers vanilla and structured IBRD notes, as well as benchmarks Repurchased notes are retired from the market The program has been operational 20+ years, including the 2008-2009 financial crisis and the 2020 COVID-19 crisis with average volumes of roughly US$1 billion annually Confidential execution as requested Execution remains at the discretion of IBRD THE WORLD BANK Treasury#37CATASTROPHE BOND EXAMPLE Provides Insurance to Chile for Earthquake Events On March 17, 2023, the World Bank (IBRD) issued a joint catastrophe bond and swap transaction that provides a total of USD 630 million of earthquake insurance to the Government of Chile for three years, consisting of USD 350 million of catastrophe bonds and USD 280 million of catastrophe swaps. The bond is IBRD's 19th cat bond and the first listed on the Hong Kong Exchange (HKEX). Distribution by Geography Bermuda Asia 4% 2% Distribution by Investor Type Asset Management USD 350 million 3-year Cat Bond Summary Terms and Conditions Issuer Rating: Maturity: Aaa/AAA 3-year North America 40% Europe 54% Pension Fund 6% 15% Insurer / Reinsurer 3% Total Amount: Settlement Date: Maturity Date: USD 350 million Bond Coupon: Risk Margin: Funding Margin: Covered Perils: ILS Fund 76% Trigger: Leads: 03/24/2023 03/31/2026 Compounded SOFR + Funding Margin + Risk Margin +4.75% p.a. +0.04% p.a. Earthquake Parametric, per occurrence Aon Securities, GC Securities and Swiss Re Capital Markets Chile Cat Bond Press Release Chile Cat Bond listed on the HKEX Press Release Net proceeds of the bonds described herein are not committed or earmarked for lending to, or financing of, any particular projects or programs, and returns on the bonds described herein are not linked to the performance of any particular project or program." 36#3837 OUTCOME BOND EXAMPLE Wildlife Conservation Bond to Protect Black Rhinos and Support Local Communities in South Africa On March 31, 2022, the World Bank (IBRD) issued the first Wildlife Conservation Bond, a principal protected outcome bond, that channels additional private capital for conservation outcomes. • Investors foregone regular coupons fund conservation investment in two parks in South Africa, while also providing environmental and social benefits to local communities. • • In addition to return of principal and a small guaranteed return, investors potentially receive a conservation success payment at maturity (funded by the Global Environment Facility) based on rhino population growth rates. Nuveen was the lead investor in the transaction which included other institutional investors and individual investors from both Credit Suisse and Citi private banking. WCB Press Release USD 150 million 5-year Bond Summary Terms and Conditions Rating: Maturity: Total Amount: Settlement Date: Maturity Date: Issue Price: Conservation Investment Payment: Conservation Success Payment: Sole Structurer: Bookrunners: AAAP 5-year USD 150 million 03/31/2022 03/31/2027 94.84% Issuer will make payments totaling ZAR 152 million to the Park Managers to finance rhino conservation activities. Paid to investors at maturity based on rhino growth rates in two Parks. Maximum payment is US$13.76 million Credit Suisse Credit Suisse and Citibank, NA Net proceeds of the bonds described herein are not committed or earmarked for lending to, or financing of, any particular projects or programs, and returns on the bonds described herein are not linked to the performance of any particular project or program.#39OUTCOME BOND EXAMPLE Helping Communities Remove and Recycle Plastic Waste On January 24, 2024, the World Bank (IBRD) issued a Plastic Waste Reduction-Linked Bond, a principal protected outcome bond, that channels private capital to a project with positive climate and development impacts. . • Investors forego regular coupon payments to provide up-front financing for projects that aim to reduce USD 100 million 7-year Bond • • and recycle plastic waste in vulnerable communities in Ghana and Indonesia. Projects help to reduce plastic pollution, create improvements in local pollution and air quality, reduce associated health impacts, and create jobs in marginalized communities. In addition to return of principal and a small guaranteed return, investors receive variable coupons linked to Plastic Waste Collection Credits, Plastic Waste Recycling Credits and Voluntary Carbon Units expected to be generated by two projects. Investors include: Velliv Pension, Skandia, Mackenzie Investments, T. Rowe Price, Muzinich & Co Plastic Waste Reduction Bond Press Release Summary Terms and Conditions Rating: Maturity: Total Amount: Settlement Date: Maturity Date: Issue Price: Plastic & VCU- Linked Interest Payment: AAAP 7-year USD 100 million 01/31/2024 01/31/2031 100% Minimum coupon: Linked to the number of Plastic Credits and Verified Carbon Units (VCUS) issued from the projects, each subject to a cumulative ceiling 1.75% per Specified Denomination Lead Manager: Citibank Net proceeds of the bonds described herein are not committed or earmarked for lending to, or financing of, any particular World Bank projects or programs. Payments 38 on the bonds are not funded by any particular World Bank project or program.#40HOW IS THE WORLD BANK ENGAGING WITH INVESTORS ON THE SDGs? O Dirk Daniel Mann/iStock THE WORLD BANK Treasury#41First BUILDING SUSTAINABLE CAPITAL MARKETS World Bank's first green bond catalyzed the green bond market and spearheaded Green Bond disclosure and impact SEK 2,325,000,000 reporting standards for green and other sustainable assets. A revolution sparked by green bonds has the potential to drive more data-driven sustainable/ impact investing. The green bond model for project selection, second party opinion, and impact reporting has expanded to World Bank Sustainable Development Bonds. 40 40 THE WORLD DI IMPACT REPORT Sustainable Development Bonds & Green Bonds 2022 Sustainable Development Bonds Today, most World Bank bonds are labeled as Sustainable Development Bonds. The Sustainable Development Bond label highlights how proceeds support the financing of projects with both green and social goals and emphasizes the holistic approach that the World Bank takes to mainstream climate action in all operations. D A global development institution focused on the reduction of poverty reduction and inequality. Issuer of sustainable development bonds and green bonds. Engagement with investors and others on sustainable and impact investments. Partnering with others to: • leverage our issuance and development experience increase awareness for thematic investment and sustainable capital flows support transparency and data availability as a global public good. THE WORLD BANK Treasury#4241 World Bank PIONEERING THE GREEN BOND MARKET H. . The World Bank's first green bond catalyzed the green bond market and spearheaded disclosure and impact reporting standards for green and other sustainable assets. Green bonds carry the same financial terms and risk as other World Bank bonds. The World Bank is advising member countries on green finance and green bond issuance, e.g., through a guide for a national taxonomy. 4,800,000 tons of untreated wastewater prevented from flowing into rivers annually in China 6,000,000 tons of CO2 emissions reduced due to reforestation in Mexico 774,600 hectares of forest restored or reforested in China & Mexico 51,462 GWh in annual energy savings Examples of projects herein are for illustrative purposes only and no assurance can be provided that disbursements for projects with these specific characteristics will be made by IBRD anytime in the future. Net proceeds of IBRD securities are not committed or earmarked for lending to, or financing of, any particular projects or programs, and returns on IBRD securities are not linked to the performance of any particular project or program THE WORLD BANK Treasury#4342 MEETING INVESTOR DEMAND For Sustainable Investment Products All World Bank bonds aim to achieve positive social and environmental impact in line with the SDGs. Investors are factoring environmental and social risks and sustainability considerations into decision-making. World Bank bonds are natural fit for investors seeking positive impact. World Bank Treasury is cultivating a long-term partnership with the private sector driving growth in green and sustainability bonds and innovation to mobilize financing for sustainable development. Investors are focusing investments on special themes and the SDGs like climate action, gender equality, good health and well-being, equitable social services, and sustainable transport. SUSTAINABLE DEVELOPMENT GOALS 1 HD POVERTY 2 TER 7 13 AFFORDABLE AND GLEAMENERGY 8 HUNGER 555 DECENT WORK AND ECOMONIC GROWTH 9 GIOHEALTH AND WELL-BEING 4 QUALITY EDUCATION MOUSTRY. MADUATION AND MFRASTRUCTURE 10 REDUCED MEQUALITIES CLINATE АСТОН 14 LIFE BELOW WATER 15 LIFE ON LAND 16 PEACE, JUSTICE AND STRONG INSTITUTIONS 5 GENDER EQUALITY 11 SUSTAINABLE CITIES AND CONVUMITIES 12 17 CLEAN WATER AND SANITATION RESPONSIBLE CONSUMPTION AND PRODUCTION PARTNERSHIPS FOR THE BOALS SUSTAINABLE DEVELOPMENT GOALS THE WORLD BANK Treasury#4443 SUSTAINABLE DEVELOPMENT BONDS IBRD issues two types of labeled bonds Sustainable Development Bonds | Commitments & Disbursements Table 1. Fiscal Y So Total Puble Administration Health Agricultura Fishing & Excial Protection Energy & Extractives Transportation Water Sanitation & W Far Education Industry, Trade Serv Information & Comma World Bank Sustainable Development Bonds aligned with Sustainability Bond Guidelines published by ICMA Green Bonds Commitments & Allocations* US$10 billion has been commit US$12.5 billion allocated net Commitments & Allocations by Se Sections 1. ablegend Energy Efficiency 2 Constation 3. Weber and Wasteweber 4.SldW 5.divy 6. Agitur, Lond Use Forests, and Ecolog 7. Infrastructure Dumn Titl Perg World Bank Green Bonds aligned with Green Bond Principles published by ICMA THE WORLD BANK Treasury#4544 GREEN BONDS THE WORLD BANK IMPACT REPORT Sustainable Development Bonds & Green Bonds 2022 WORLD BAKK Read the 2022 World Bank (IBRD) Impact Report Biodiversity FY22 GREEN BOND PROJECT RESULTS 7.3 million ha under sustainable landscape management practices Clean Transportation TT 1.2 million people benefitting from enhanced access to transportation services 323 new, cleaner-fuel vehicles procured 46 km of bus rapid transit routes operated Resilient Infrastructure 25 years of return period for which roads are designed to withstand a flood event Sustainable Agriculture 134,420 adopting improved agricultural technology 43,836 to of annual pollution load (COD) and 5,031 tons of annual nutrient load to waterways reduced 37,594 ha clients provided with new/improved irrigation or drainage services Renewable Energy & Energy Efficiency 肥 675,023 MV MWh of heat and electricity generated from renewable biomass 105,571 MWh of annual energy savings 179 MW of renewable capacity added THE WORLD BANK Treasury#4645 SUSTAINABLE DEVELOPMENT BONDS Holistic Approach Uses SDGs as a Framework Sustainable & Inclusive Growth 9 4 0 9.2 million people with enhanced access to transportation services 772 MW of generation capacity of energy constructed or rehabilitated 493,000 people with new/improved electricity service 500,000 people with new/enhanced access to broadband internet 29.3 million students with direct interventions to enhance learning 9.1 million beneficiaries of job-focused interventions Of which: " 590,000 beneficiaries of financial services ■ 3.3 million farmers accessing agricultural assets/services ■ 865,220 teachers recruited/ trained . 2.7 million beneficiaries of job- focused interventions ■ 755,200 students benefiting from direct interventions to enhance learning" ⚫ 1.1 million people benefiting from labor market programs 590,000 people and 10,000 businesses benefiting from financial services** THE WORLD BANK IMPACT REPORT Sustainable Development Bonds & Green Bonds 2022 WUILDCAM 680 projects supported $33.1 billion in lending committed Read the 2022 World Bank (IBRD) Impact Report THE WORLD BANK Тгеазигу#4746 WORLD BANK SUMMARY ● ● • The World Bank's purpose is to end extreme poverty and promote shared prosperity. World Bank bonds fund sustainable development activities. AAA/Aaa rating is based on its strong balance sheet and capital, conservative financial policies and risk management, and support from 189 member countries. Wide range of products ranging from benchmark bonds to tailor-made notes designed to suit specific investor needs. All bonds are labeled as 'sustainability' or 'green' bonds designed to achieve positive impact. Outcome based structured bonds allow investors to take on other risks for additional impact. 8 = END POVERTY A THE WORLD BANK Treasury#48ANNEX: PROJECT STORIES World Bank Disclaimer: Examples of projects herein are for illustrative purposes only and no assurance can be provided that disbursements for projects with these specific characteristics will be made by IBRD anytime in the future. Net proceeds of IBRD securities are not committed or earmarked for lending to, or financing of, any particular projects or programs, and returns on IBRD securities are not linked to the performance of any particular project or program. THE WORLD BANK Treasury#49HO POLORT 4 10 QUALITY EDUCATION 10 REDUCED INEQUALITIES COLOMBIA Access and Quality in Higher Education ELEVEN LABEN ELEVEN 754201 O World Bank LTIN NST LIVE MALL For more information: https://projects.worldbank.org/en/projects-operations/project- detail/P160446 48 Development Challenge: The participation of young people from socioeconomically disadvantaged backgrounds in tertiary education in Colombia is very low. In 2014, only 10% of young people in the poorest quintile enrolled in a higher education program, compared to 59% of the richest quintile. That same year, only 13% of the rural population enrolled in a tertiary education program, as compared to 60% in the main cities. Half of the students who enter tertiary education drop out before finishing their studies. Purpose: Improve the quality of tertiary education in participating institutions and increase enrollment of students from disadvantaged socioeconomic backgrounds in quality programs. The project provides financing for students to attend tertiary and postgraduate education through student loans and scholarships. The project also provides financing for institutions to carry out quality improvements to obtain accreditation through competitive research grants and loans. Expected Results (include): • 1,222,876 students from disadvantaged backgrounds enrolled in tertiary education 46,080 students from low socioeconomic groups who obtain a loan • 322,000 students benefiting from direct interventions to enhance learning • 6.2% of new student loans given to victims of violence; 7.5% to indigenous, afro- Colombians, and Roma people; 7% of loans to new students in 'remote areas' IBRD Financing: $160 million Closing: 2023 INTERNATIONAL BANK FOR WORLD BANK ECONSTRUCTION AND#506 GLEAN WATER AND SAMTATION 9 INDUSTRY, INNOVATION AND INFRASTRUCTURE O World Bank For more information: https://projects.worldbank.org/en/projects-operations/project- detail/P172548 49 EGYPT Greater Cairo Air Pollution Management and Climate Change Project Development Challenge: Despite significant improvements in air quality in recent years, Greater Cairo's air pollution levels far exceed international standards. Pollution management is key to providing safe living conditions for communities while reducing the health burden, fiscal strain, and economic costs from environmental degradation. Air pollution and adverse climate impacts threaten the longevity of Egypt's draw for tourism (a sector that contributes about 12% to GDP) by degrading Egypt's rich cultural heritage and creating conditions that discourage tourists from visiting altogether. Purpose: Reduce air and climate emissions from critical sectors and increase resilience to air pollution in Greater Cairo. In response to COVID-19, the project is working to improve healthcare waste management systems and introduce prevention measures in municipal waste operations. This will focus on under-served hospitals to provide waste sterilization equipment and personal protective gear, alongside the provision of technical assistance and training on the safe handling, transportation and disposal of healthcare waste. · Expected Results (include): Increase the number of women employed in the solid waste chain by 10%, following training and capacity building • Reduce GHG emissions from public buses by 23% . Reduce GHG emissions from municipal solid waste by 30% IBRD Financing: $200 million Closing: 2026 THE WORLD BANK Treasury#51GOOD HEALTH AND WELL-BEING W 10 INEQUALITIES Calvi GABON COVID-19 Strategic Preparedness and Response Development Challenge: Although Gabon has two laboratories capable of diagnosing COVID-19, samples must be transported either by air, facing logistical constraints, or by road, which is far from the capital. These two centers do not have enough capacity to provide the laboratory testing Gabon needs during the COVID-19 pandemic and financial support is needed for laboratory equipment and acquisition of kits and laboratory reagents. Purpose: Prevent, detect, and respond to the threat posed by COVID-19 and strengthen national systems for public health preparedness in Gabon. The project received additional financing to support the country's National Vaccination and Deployment Plan, to enable affordable and equitable access to COVID-19 vaccines, providing 945,255 doses. Expected Results (include): • • • • 23 laboratories provided with COVID-19 diagnostic equipment, test kits, and reagents Increase the percentage of health staff equipped with appropriate PPE for infection prevention and control to 80% Provide 26 ambulances to transport COVID-19 patients 60% of population vaccinated, of which 50% are women Distribute gender sensitive educational communication materials on COVID-19 vaccines IBRD Financing: $21 million Closing: 2024 THE WORLD BANK Treasury World Bank • For more information: https://projects.worldbank.org/en/projects-operations/project- detail/P173927 50#522 ZEND HUNGER SSS 3 GOOD HEALTH GENDER AND MELL-BEING EQUALITY 6 CLEAN WATER AND SANITATION O World Bank For more information: http://projects.worldbank.org/P159213?lang=en 51 GUATEMALA Crecer Sano: Guatemala Nutrition and Health Project Development Challenge: Guatemala faces a crisis as a result of the spread of COVID- 19, both in terms of public health and the economy. COVID-19 has worsened the country's economic situation, leading to a rise in malnutrition along with food shortages and an increase in food prices. Approximately 47% of Guatemalan children suffer from stunting one of the highest rates in the world. The capacity of the country's health infrastructure to respond to the crisis is limited due to high demand and insufficient human resources, equipment, and financing. Purpose: Improve selected practices, services, and behaviors known to be key determinants of chronic malnutrition (with an emphasis on the first 1,000 days of life) and respond to the threat posed by COVID-19, in selected intervention areas. In response to the COVID-19 pandemic, the project was restructured to reallocate $20 million of original project financing to increase capacity for COVID-19 testing and expand temporary and mobile medical pavilions to cope with the increasing demand for health services. Expected Results (include): 680,000 people reached with essential health, nutrition, and population services including: 400,000 children under 5 years old receiving immunizations - 280,000 women and children under 5 years old receiving basic nutrition services • Train 5,000 health staff in COVID-19 infection prevention and control • Build and equip 2 temporary hospitals for COVID-19 treatment IBRD Financing: $100 million Closing: 2024 THE WORLD BANK Treasury#531 NO FUNERTY 3 GOOD HEALTH AND WELL-BEING ர்ச்ச்ன் -/- REDUCED 10 INEQUALITIES INDIA Innovate for Inclusiveness World Bank For more information: https://projects.worldbank.org/en/projects-operations/project- detail/P156241?lang=en 52 Development Challenge: While India is recognized as a leading global manufacturer of high-quality generic drugs, industry gaps and market failures constrain its innovation capabilities, limiting its competitiveness and ability to address its disease burden. Diseases that disproportionately affect low- and middle-income countries are largely ignored as companies tend to allocate resources to high-profit markets, leading to a growing concern of getting affordable healthcare in India. Purpose: Facilitate innovation in biopharmaceutical products and medical devices that address public health priorities. Strengthen and accelerate the pilot-to-market innovation ecosystem for low-cost vaccines, biopharmaceuticals, diagnostics, and medical devices funding for the government of India's Biotechnology Industry Research Assistance Program (BIRAC). The project will provide grant funding to companies, research and academic institutions, and practitioners to support early- stage bio-manufacturing, clinical development, training, and technology transfer. Expected Results (include): • • 50 products addressing public health priorities advance at least one step on the product development pathway 23 technologies licensed for manufacturing or commercialization • 14 international publications. • 6,295 people trained IBRD Financing: $125 million Closing: 2023 THE WORLD BANK Treasury#54L GENDER IEQUALITY INDUSTRY, INNOVATION AND INFRASTRUCTURE LEBANON Greater Beirut Urban Transport Project OLD BRE Development Challenge: Lebanon has one of the highest population densities in the world. About 87% of the resident population lives in urban areas, with more than half in the Greater Beirut Area. The economic cost of traffic congestion in Lebanon is estimated above US$2 billion, between 5% and 10% of national GDP. A growing population, including an increase in Syrian refugees, has increased traffic levels by as much as 25%. Purpose: Improve the speed, quality, and accessibility of public transport for passengers in Greater Beirut and at the city of Beirut's northern entrance. The project will provide needed infrastructure to reduce the traffic burden, create jobs, and stimulate the economy while increasing mobility and ensuring security for vulnerable groups including the poor, women, and youth. Expected Results (include): • • Create 2 million labor days in construction jobs for low-income Lebanese and Syrians Attract more than 300,000 passengers per day while halving commute times between Beirut and the northern suburbs • World Bank Reduce traffic congestion For more information: https://projects.worldbank.org/en/projects-operations/project- detail/P160224?lang=en • 60,0000 tons of CO2 equivalent reduced annually IBRD Financing: $225.2 million Closing: 2023 001 53 THE WORLD BANK Treasury#55INDUSTRY. 9 INNOVATION AND INFRASTRUCTURE 6 SERBIA Enabling Digital Governance Project World Bank For more information: https://projects.worldbank.org/en/projects-operations/project- detail/P164824 54 Development Challenge: The Serbian government wanted to digitalize services to quickly respond to the COVID-19 crisis and prepare for the second wave of the pandemic. While Serbia has placed a strong emphasis on e-government services, efforts have been uncoordinated and only partially funded. Many registries and information data bases are fragmented, imposing an additional burden in terms of time and costs to citizens and businesses when engaging with the government. Purpose: Improve access to and efficiency of online government services. Two activities have been introduced in response to the COVID-19 pandemic: (1) a business continuity assessment for government institutions to help guide the transition to providing digital services, and (2) the development of software solutions to enable mobile access to government services. • • Expected Results (include): • Increase the number of government services digitized and available online to 30, from a baseline of 4 Provide 2,000,000 people with access to online services Increase user satisfaction with online services by 50% IBRD Financing: $50 million Closing: 2024 THE WORLD BANK Treasury#56AFFORDABLE AND CLEAN ENERGY SUSTAINABLE CITES 11 AND COMMUNITIES 13 CLIMATE ACTION TURKEY Energy Efficiency in Public Buildings Development Challenge: Energy efficiency is critical for Turkey to sustain its economic growth while meeting its commitments for climate change and environmental sustainability. As energy use per capita in Turkey rises, its energy intensity is expected to grow. This high intensity negatively impacts energy security as Turkey's energy imports account for almost 19% of the country's total imports. It also has a negative impact on the environment, with the energy sector accounting for 72.2% of the country's greenhouse gas (GHG) emissions. Purpose: Reduce energy use in central government buildings and inform the development of sustainable financing mechanisms to support a scaled-up, national program for energy efficiency in public buildings. The project supports the renovation of central government and central-government affiliated buildings (i.e., public buildings including schools and hospitals); and strengthens technical assistance to support project implementation to ensure its sustainability and scale-up. Expected Results (include): • . • 315 GWh of annual energy savings 225,000 tons of CO2 equivalent reduced annually 620 buildings commissioned US$18,000,000 of energy costs savings annually IBRD Financing: $150 million Closing: 2025 • World Bank For more information: https://projects.worldbank.org/en/projects-operations/project- detail/P162762 55 THE WORLD BANK Treasury#5756 CONTACT US Internet: Phone: Fax: Email: Address: https://treasury.worldbank.org/ +1 202 477 2880 +1 202 477 8355 [email protected] 1818 H Street N.W. MSN C7-710 Washington, DC 20433, USA Pricing Sources Bloomberg Discount Notes IBRD <Govt> <Go> or IBRD <Go> WBDN <Go> THE WORLD BANK Treasury#5857 • • • • • • • THE WORLD BANK IBRD Acknowledgements and Disclaimers END POVERTY END POVERTY Photos, graphics and content © The World Bank and as noted. Cover photo credits (from left to right): Eefje Verbeek/iStock, World Bank, pespiero/iStock. This presentation has been prepared by the World Bank (International Bank for Reconstruction and Development, IBRD) for information purposes only, and the IBRD 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. World Bank No Offer or Solicitation Regarding Securities. This presentation may include information relating to certain IBRD securities. Any such information is provided only for general informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy any IBRD securities. All information relating to securities should be read in conjunction with the appropriate prospectus and any applicable supplement and Final Terms thereto, including the description of the risks with respect to an investment in such securities, which may be substantial and include the loss of principal. The securities mentioned herein may not be eligible for sale in certain jurisdictions or to certain persons. Consult with Advisors. Investors considering purchasing an IBRD security should consult their own financial and legal advisors for information about such security, the risks and investment considerations arising from an investment in such security, the appropriate tools to analyze such investment, and the suitability of such investment to each investor's particular circumstances. No Guarantee as to Financial Results. IBRD does not warrant, guarantee or make any representation or warranties whatsoever, express or implied, or assumes any liability to investors regarding the financial results of the IBRD securities described herein. Each recipient of this presentation is deemed to acknowledge that this presentation is a proprietary document of IBRD and by receipt hereof agrees to treat it as confidential and not disclose it, or permit disclosure of it, to third parties without the prior written consent of the IBRD. All content (including, without limitation, the graphics, icons, and overall appearance of the presentation and its content) are the property of the IBRD. The IBRD does not waive any of its proprietary rights therein including, but not limited to, copyrights, trademarks and other intellectual property rights. This presentation includes forward-looking statements. These forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The words "believe," "expect," "anticipate," "intends," "estimate," "forecast," "project," "will," "may," "should" and similar expressions identify forward-looking statements. The forward-looking statements in this presentation are based upon various assumptions, many of which are based, in turn, upon further assumptions, including, without limitation, management's examination of historical operating trends, data contained in IBRD's records and other data available from third parties. Although IBRD believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, and IBRD may not achieve or accomplish these expectations, beliefs or projections. Neither IBRD, nor any of its members, directors, officers, agents, employees or advisers intend or have any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained in this presentation. THE WORLD BANK Treasury