THE World Bank, through its International Bank for Reconstruction and Development (IBRD), has issued a five-year, $150-million Wildlife Conservation Bond (WCB) sustainable development bond in support of South Africa’s efforts to conserve endangered species.
Also known as the “Rhino Bond,” it includes a potential performance payment from the Global Environment Facility (GEF), which will contribute to protecting and increasing black rhino populations in two protected areas in the Eastern Cape.
These are the Addo Elephant National Park (AENP) and the Great Fish River Nature Reserve (GFRNR). AENP is managed by the South African National Parks (SANParks) and GFRNR is managed by the Eastern Cape Parks and Tourism Agency (ECPTA).
“The WCB is a first-of-its-kind, outcome-based, financial instrument that channels investments to achieve conservation outcomes, measured in this case by an increase in black rhino populations. Rhinos are considered an umbrella species that play a crucial role in shaping entire ecosystems
You’ve reached your free article limit
Subscribe to enjoy unlimited access to trusted journalism. Cancel anytime.
Subscribe nowNeed help? molokom@insidepolitic.co.za
