In the hot and humid jungle city of Manaus in northern Brazil, work is under way to create school places for 18,000 new students as part of a broader push to boost education provision in the Amazonas - a region blanketed in dense rainforest and where isolated rural communities, often accessible only by boat, lack basic schooling. The project is being funded by the Inter-American Development Bank with cash raised from its Education, Youth and Employment, or EYE, bond programme - a scheme designed to improve social outcomes in Latin America and the Caribbean. IDB's EYE deals are part of a small but growing market for bonds where proceeds are being used for specific social impacts that are distinct from but sometimes lumped together with the wider Green bond market.
展开▼
