World Bank launches pandemic bond

The World Bank's International Bank for Reconstruction and
Development (IBRD) is targeting $100mn from its first pandemic cat
bond, which forms part of plans to raise a larger pandemic
financing facility.
The World Bank had hoped to raise a total of $500mn of insurance
cover to help it respond more quickly to future pandemics following
the outbreak of Ebola virus in 2014.
The three-year cat bond is split into two tranches and will
trigger on a parametric, per-occurrence basis using...