Rhino Bond Sold by World Bank in First Issuance of Its Kind (3)

The World Bank said it has priced the world’s first wildlife bond, raising $150 million that will be partly used for the conservation of black rhinos in South Africa.

The five-year bond will pay returns determined by the rate of growth in populations of the animals in two South African reserves, the Addo Elephant National Park and the Great Fish River Nature Reserve, the World Bank’s International Bank for Reconstruction and Development said in a statement late Wednesday.

A black rhinoceros

Photographer: Tony Karumba/AFP/Getty Images

“The Wildlife Conservation Bond is a first-of-its-kind, outcome-based, financial instrument that channels investments to achieve conservation outcomes -- measured in this ...