Pandemic bond to pay World Bank if coronavirus advances

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Pandemic bond to pay World Bank if coronavirus advances

coronavirus_PA_575x375_30Jan2020
(200130) -- QINGYUAN, Jan. 30, 2020 (Xinhua) -- A cured patient (C) poses for a group photo with medical staff in front of a hospital in Qingyuan, south China's Guangdong Province, Jan. 30, 2020. The patient, who was the first diagnosed with novel coronavirus (2019-nCoV) pneumonia in Qingyuan, got cured and was discharged from hospital on Thursday. (Photo by Li Sijing/Xinhua) | unreguser/Xinhua News Agency/PA Images

As financial markets fretted over the spread of a coronavirus outbreak in China this week, one security was in the firing line more directly than any other. Holders of the World Bank’s pandemic bond will lose principal if the disease spreads by a sufficient amount, writes Jasper Cox.

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