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Wednesday June 28th saw the launch of the first-ever ‘pandemic bond’ by the World Bank, with the aim to finance rapid response to disease outbreaks.
How this works:
With quicker funds surging into pandemic-stricken areas, the outbreak can be better handled and more lives can be saved. Similar to catastrophe bonds, investors not only reap the returns from their investment, but also gain the ability to do social good at the same time.
According to Reuters, this issuance was oversubscribed by 200 percent.