The World Bank is taking a creative approach to tackling food loss and waste, a major global challenge outlined by Sustainable Development Goal 12.3: halving food waste by 2030. In a press release from Washington, D.C. on October 15, 2020, the World Bank announced the issuance of new Sustainable Development Bonds denominated in Norwegian krone (NOK) and Swedish krona (SEK).
Raising Awareness, Raising Capital
This bond issuance, totaling approximately US$550 million equivalent, served a dual purpose. While raising capital to support the World Bank\’s mission of ending extreme poverty and promoting shared prosperity, the bonds were also a tool for raising awareness about the importance of combating food loss and waste.
Engaging Scandinavian Investors
The bonds were specifically offered in Norwegian krone and Swedish krona, targeting investors in Scandinavia. This strategic move allowed the World Bank to tap into a new market while simultaneously engaging with investors in a region known for its focus on sustainability.
Over 30 investors including Deka Investment, the Folksam Group, Handelsbanken Treasury, Kommunalbanken (KBN), Länsförsäkringar Treasury, Nordea Asset Management, Odin Forvaltning, Sandnes Sparebank, Sbanken ASA, SpareBank 1 SMN, SpareBank 1 SR-Bank ASA, Sparebank 1 Østlandet, Sparebanken Sør, Sparebanken Vest, Storebrand Asset Management, Storebrand Bank ASA and Union Investment Privatfonds GmbH participated in the bonds. Scandinavian investors accounted for 95% of the NOK bond and 85% of the SEK bond with German, Japanese and UK based investors rounding out the remainder of investor participation.
The Bonds Themselves
The breakdown of the offering is as follows:
- NOK 4 billion (approximately US$436 million) 5-year floating rate bond
- SEK 1 billion (approximately US$114 million) 5-year fixed rate bond
Both bonds have a maturity date of October 23, 2025.
Food Loss and Waste: A Pressing Issue
The World Bank recognizes food loss and waste as a significant global problem. According to estimates, roughly one-third of all food produced globally is lost or wasted each year. This not only represents a massive financial loss but also contributes to environmental issues and food insecurity.
The World Bank\’s Commitment
By issuing these Sustainable Development Bonds with a focus on food loss and waste, the World Bank demonstrates their commitment to addressing this critical challenge. The funds raised will support lending programs in middle-income countries aimed at improving infrastructure, access to markets and logistics, and waste management practices throughout the food supply chain.
A Call to Action
The World Bank\’s initiative serves as a call to action for all stakeholders involved in the food system. From producers and consumers to policymakers and investors, a collaborative effort is needed to reduce food loss and waste and ensure a more sustainable and equitable food system for all.
Newswire:
https://www.worldbank.org/en/news/press-release/2020/10/15/world-bank-issues-sustainable-development-bonds-in-scandinavian-currencies-and-raises-awareness-for-food-loss-and-waste
Afghanistan’s Mineral Future: From Buried Wealth to National Architecture
For much of the modern era, Afghanistan has been interpreted through the language of conflict, fragility, and geopolitics. Yet beneath that familiar narrative lies a different national reality: one of the most underdeveloped mineral endowments in the world.
Its mountains and terrain are believed to hold significant deposits of copper, iron ore, lithium, rare earth elements, gold, and other strategic minerals. At a time when electrification, battery storage, and industrial supply-chain security are becoming central to the global economy, these resources are no longer peripheral. They sit close to the heart of the next industrial era.
But Afghanistan’s mineral story is not fundamentally about geology.
It is about whether a nation can build the institutional, financial, and infrastructural architecture required to transform buried wealth into enduring prosperity.
Natural resources on their own do not create development. In many countries, they have produced volatility, elite capture, fiscal distortion, and missed national potential. Where resource wealth has been translated into long-term strength, success has rarely come from extraction alone. It has come from design.
Three foundations matter.
The first is a transparent and credible licensing regime. Without it, capital remains short-term, speculative, or politically distorted. With it, a country can begin to attract serious long-horizon partners while protecting national interest and public legitimacy.
The second is sovereign revenue architecture. Resource wealth must be governed through institutions capable of channeling proceeds into infrastructure, education, productive systems, and long-term national reserves rather than immediate fiscal depletion. A country that extracts without stewarding simply liquidates its future.
The third is physical economic infrastructure. Mineral deposits become economically meaningful only when they are connected to power, transport, logistics, processing capacity, and regional trade routes. Without these systems, resource wealth remains stranded beneath the ground, technically valuable but nationally unrealized.
Afghanistan’s challenge has not been the absence of assets. It has been the absence of the systems required to convert those assets into broad-based development.
Yet this is precisely why the opportunity remains so large.
Because the sector is still underdeveloped, Afghanistan is not locked into a mature but failing model. It still has the possibility of first-principles design. A serious mineral strategy could serve as the anchor of a wider national blueprint, linking extraction to infrastructure investment, domestic industrial formation, and regional transport corridors connecting Central and South Asia.
This is where the question becomes larger than mining.
The deeper issue is whether Afghanistan can create a credible economic architecture above the mineral base: institutions that inspire trust, capital structures that support long-term development, and national systems that ensure resource wealth strengthens the country rather than fragments it.
Afghanistan’s mineral endowment should not be understood merely as a buried stock of commodities. It should be understood as a strategic national platform, one that could help finance infrastructure, expand industrial capacity, deepen regional integration, and reshape the economic horizon of the country.
The future of Afghanistan may depend less on the minerals beneath its soil than on the quality of the institutions, structures, and ambitions built above it.
