The World Bank is aiming to raise $3 billion for water, sanitation, and marine protection — and it’s not doing this through a typical fundraiser. Instead of hosting a telethon or a swanky benefit, the international financial institution has announced plans to offer a bond series designed to pour money into the world’s oceans.
The bonds will function similar to the war bonds your grandparents purchased in World War II. While those bonds provided immediate funds for U.S. military supplies, the water bonds will infuse marine projects with cash.
Investors can redeem the bonds for even greater sums once they mature years later, but the owners of these water bonds won’t exactly be average spenders. According to Business Green, the first in the series of water bonds is priced at 1 billion Swedish Krona (SEK), or roughly $77 million.