OPEC Fund Debuts U.S.$1bn SDG Bond for Development Finance 

The OPEC Fund for International Development, a development institution established by the Organization of the Petroleum Exporting Countries' member governments, has raised $1 billion by selling its first-ever bond. <br />The three-year bond which will pay investors an interest rate of 4.5 percent, will also be classed as a 'sustainable development' bond. <br />The OPEC Fund's head of Funding, Martine Mills Jansen, says the bond pricing is a major milestone for the OPEC Fund and the culmination of several years of intensive work. <br />A breakdown of subscriptions showed that central banks from the Middle East, Europe, and Asia and other types of official institutions, including from the United States, accounted for 62 percent of the bond's buyers.