9
June 2008: The World Bank has priced a US$25 million bond linked to Certified
Emissions Reductions (CERs) to be generated by a Clean Development Mechanism
(CDM) project in China.

The five-year bond, which is the first of its kind in
the market, will initially pay a fixed coupon of three percent. Payment on the
bond will then switch to a coupon linked to the future performance of CER market
prices and the actual delivery of CERs generated by the project, a hydropower
plant in China’s Guizhou province. [World
Bank News and Broadcast] [Clean
Development Mechanism in China]