Bond Global Development Alliance 0% ( XS2637860920 ) in USD

Issuer	Global Development Alliance
Market price	100 % ⇌
Country	United States
ISIN code	XS2637860920 ( in USD )
Interest rate	0%
Maturity	16/10/2023 - Bond has expired
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Detailed description	The International Development Association (IDA) is a member of the World Bank Group that provides concessional loans and grants to the world's poorest countries for projects and programs aimed at reducing poverty and fostering sustainable economic growth. This financial article reports on the recent maturation and repayment of a specific bond, identified by ISIN code XS2637860920. Issued by the International Development Association (IDA), a crucial arm of the World Bank Group, this fixed-income instrument concluded its lifecycle on its maturity date, October 16, 2023. The International Development Association is renowned for its role as one of the largest sources of assistance for the world?s 75 poorest countries, providing grants and low-interest loans for projects that boost economic growth, reduce poverty, and improve the lives of the poor. Originated in the United States and denominated in United States Dollars (USD), this bond was characterized by a zero-coupon interest rate, indicating that it did not yield periodic interest payments throughout its term. While a payment frequency of two times per year was noted, consistent with semi-annual coupon distributions for other instruments, for this zero-coupon bond, the full repayment at par, valued at 100% of its nominal price on the market, constituted the sole financial settlement event upon its maturity. The successful repayment of this obligation further reinforces the issuer's robust financial standing and adherence to its commitments in the global capital markets.