Pandemic Emergency Financing Facility

The spreading global outbreak of the novel coronavirus (2019-nCoV or Covid-19) has now met another of the conditions within the trigger mechanism of the World Bank’s pandemic catastrophe bond transaction, raising the chance that noteholders face losses in the coming weeks.

The pressure is rising on the World Bank’s pandemic catastrophe bond transaction as the novel coronavirus (2019-nCoV or Covid-19) spreads internationally and the number of deaths in certain countries around the globe nears the trigger point.

The secondary market indicative price for one tranche of the World Bank’s pandemic catastrophe bond transaction has now responded to the rise in cases from the novel coronavirus outbreak.

The developing and still worsening outbreak of a novel coronavirus in China has not yet caused any price response from the World Bank’s pandemic catastrophe bond transaction.

The worsening outbreak of a novel coronavirus in China has brought the World Bank’s pandemic catastrophe bond transaction back into focus and it turns out that China was seen as the most probable source of a coronavirus outbreak that could trigger the IBRD CAR 111-112 notes.

The World Bank’s Pandemic Emergency Financing Facility (PEF) has sent a further $30 million to aid the Democratic Republic of Congo’s (DRC) response to the Ebola outbreak.

The World Bank has delivered the first of a new combined catastrophe and pandemic contingent risk financing solution to the Maldives, leveraging existing structures to create something responsive and that works similar to insurance for the archipelagic nation.

The Ebola disease outbreak in the DR Congo has been declared a Public Health Emergency of International Concern by the World Heath Organisation (WHO), as it highlights the urgency needed to address the outbreak and stem its travel across borders.

The risk that the World Bank’s pandemic catastrophe bond transaction triggers and makes a payout appears to have risen significantly, as the World Heath Organisation (WHO) reports that the Ebola outbreak in the Democratic Republic of Congo has now spread across the border to Uganda.

The World Bank’s Pandemic Emergency Financing Facility (PEF) has disbursed another $10 million from its cash window to aid the Democratic Republic of Congo (DRC) Ebola outbreak response.