Project
| ID | INDIGO-POJ-0247 |
|---|---|
| Impact Bond Name - (Value) | Wildlife Conservation Bond |
| Alternative Names - (Value) | Rhino Bond |
| Stage of Development - (Value) | Implementation |
| Stage of Development - (Source ID's) | source1 |
| Dates - Date outcomes contract signed - (Value) | 2022-03 |
| Dates - Anticipated completion date - (Value) | 2027-03 |
| Dates - (Source ID's) | source1 |
| Overall project finance - Total investment commitment - Currency - (Value) | USD |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 150000000 |
| Overall project finance - Total investment commitment - Amount USD - Exact - (Value) | 150000000 |
| Overall project finance - Maximum potential outcome payment - Currency - (Value) | USD |
| Overall project finance - Maximum potential outcome payment - Amount - (Value) | 163760000 |
| Overall project finance - Maximum potential outcome payment - Amount USD - (Value) | 163760000 |
| Overall project finance - (Source ID's) | source1 |
| Purpose and classifications - Intervention - (Value) | The World Bank will make payments through the Global Agent to the Park Managers in instalments to fund rhino conservation in the form of Conservation Investment Payments totaling ZAR 152 million. These Conservation Investment Payments will be utilized by the Park Managers to implement conservation and adaptive management activities that seek to maximize net rhino growth rates over five years. |
| Purpose and classifications - Policy sector - (Value) | Agriculture and environment |
| Purpose and classifications - (Source ID's) | source1,source2 |
| Delivery Locations 1: Service Provision ID - (Value) | deliverylocation1 |
| Delivery Locations 1: Location - Name - (Value) | Addo Elephant National Park, South Africa |
| Delivery Locations 1: Location - Country - (Value) | ZA |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | -33.446111 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | 25.745833 |
| Delivery Locations 2: Service Provision ID - (Value) | deliverylocation2 |
| Delivery Locations 2: Location - Name - (Value) | Great Fish River Nature Reserve, South Africa |
| Delivery Locations 2: Location - Country - (Value) | ZA |
| Delivery Locations 2: Lat/Lng - Lat - (Value) | -32.962778 |
| Delivery Locations 2: Lat/Lng - Lng - (Value) | 26.842222 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | World Bank Press Release published on 23 March 2022. |
| Sources 1: URL - (Value) | https://www.worldbank.org/en/news/press-release/2022/03/23/wildlife-conservation-bond-boosts-south-africa-s-efforts-to-protect-black-rhinos-and-support-local-communities |
| Sources 2: Id | source2 |
| Sources 2: Name - (Value) | World Bank infographic published on 23 March 2022. |
| Sources 2: URL - (Value) | https://www.worldbank.org/en/news/infographic/2022/03/23/mobilizing-investors-to-protect-endangered-rhinos |
| Service Provisions 1: Id | serviceprovision1 |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-1370 |
| Service Provisions 1: Notes | The Addo Elephant National Park is managed by the South African National Parks. |
| Service Provisions 2: Id | serviceprovision2 |
| Service Provisions 2: Organisation ID - (Value) | INDIGO-ORG-1371 |
| Service Provisions 2: Notes | The Great Fish River Nature Reserve is managed by Eastern Cape Parks and Tourism Agency (ECPTA). |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-1373 |
| Outcome Payment Commitments 1: Organisation Role Category - (Value) | Multilateral/Bilateral/Intergovernmental Financial Institution |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Currency - (Value) | USD |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount - (Value) | 163760000 |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount USD - (Value) | 163760000 |
| Outcome Payment Commitments 1: Notes | Maximum potential payment after maturity of the bond is USD 150,000,000 and maximum conservation success payment USD 13.76 million (assuming that final rhino growth rate was over 4%). |
| Investments 1: Id | investment1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-1381 |
| Investments 1: Organisation Role Category - (Value) | Investment Fund |
| Investments 1: Investment Commitment - Currency - (Value) | USD |
| Investments 1: Investment Commitment - Amount - Exact - (Value) | 150000000 |
| Investments 1: Investment Commitment - Amount USD - Exact - (Value) | 150000000 |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-1374 |
| Intermediary services 1: Organisation Role Category - (Value) | Impact bond investment structure |
| Intermediary services 1: Other Role Description - (Value) | Together with Citibank, they are also bookrunners. |
| Intermediary services 2: Organisation ID - (Value) | INDIGO-ORG-1375 |
| Intermediary services 2: Organisation Role Category - (Value) | Other |
| Intermediary services 2: Other Role Description - (Value) | Bookrunner |
| Intermediary services 3: Organisation ID - (Value) | INDIGO-ORG-1376 |
| Intermediary services 3: Organisation Role Category - (Value) | Other |
| Intermediary services 3: Other Role Description - (Value) | Calculation agent |
| Intermediary services 4: Organisation ID - (Value) | INDIGO-ORG-1377 |
| Intermediary services 4: Organisation Role Category - (Value) | Other |
| Intermediary services 4: Other Role Description - (Value) | Verification agent |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | The World Bank will pay a Conservation Success Payment to Noteholders at maturity, which will be determined based on the rhino population growth rate in the Addo Elephant National Park and Great Fish River Nature Reserve over the term of the bonds. If final rhino population growth rate is ≤ 0%, there is no conservation success payment for investors. |
| Outcome Metrics 2: Id | outcomemetric2 |
| Outcome Metrics 2: Outcome Definition - (Value) | If final rhino population growth rate is 0% < X ≤ 2%, investors will receive USD 36.69 for every USD 1000 that they invested in the project. |
| Outcome Metrics 3: Id | outcomemetric3 |
| Outcome Metrics 3: Outcome Definition - (Value) | If final rhino population growth rate is 2% < X ≤ 4%, investors will receive USD 73.38 for every USD 1000 that they invested in the project. |
| Outcome Metrics 4: Id | outcomemetric4 |
| Outcome Metrics 4: Outcome Definition - (Value) | If final rhino population growth rate is > 4%, investors will receive USD 91.73 for every USD 1000 that they invested in the project.The maximum Conservation Success Payment is US$13.76 million. |
| Documents 1: Title - (Value) | IATI Data |
| Documents 1: URL - (Value) | https://d-portal.org/savi/?aid=XI-BRIDGE-6385676864-10330 |
| Documents 1: Notes | Data on this project is published in the IATI data standard too. The data ID is XI-BRIDGE-6385676864-10330 – it may be available through other IATI tools. |