IFC made the largest disclosed single allocation in the register outside the debt conversions: about R1.6 billion of the R2.5 billion Cape Water Performance-Based Bond, as lead co-anchor investor [IC].
Right of reply
This page describes IFC only through its published statements and the public records of the deals listed. IFC has not yet been invited to comment. Responses and corrections will be recorded here with their date. On register pages, [MS] marks a claim that rests only on the institution’s own statement or on statements by parties to the same deal.
In the register
The register follows instruments whose terms depend on a verified ecological outcome, the broad family of the performance-based bond. The register index explains its tiers, roles and claim tags.
| Deal | Year | Family | Role | Amount | Claim |
|---|---|---|---|---|---|
| Cape Water Performance-Based Bond (FR31PB) | 2026 | Outcome-linked bond | Lead co-anchor investor | About R1.6bn | [IC] |
The JSE names IFC, FSD Africa Investments and Aluwani Capital Partners as the bond’s co-anchor investors [IC]. IFC funded its position through a new R1.6 billion borrowing facility with Citi; the World Bank’s release of 14 April 2026 says the facility “has supported IFC’s anchor investment into the Cape Water outcome-based bond” [IC]. With FSD Africa Investments, IFC supplied about R1.83 billion of the R2.5 billion issue on disclosed figures. The bond’s mechanics, and IFC’s stated reasons for anchoring it, are set out in Why Three Investors Anchored the Cape Water Bond.
Related
- Nature Performance Bond Investor Register
- FirstRand Bank
- Rand Merchant Bank
- FSD Africa Investments
- Aluwani Capital Partners
- Citi
- World Bank Treasury (IBRD)
- Why Three Investors Anchored the Cape Water Bond
- Performance-Based Water Bonds
- IFC’s page on the Ward 2 Development Forum register, written for valley residents: International Finance Corporation
References
- JSE, “JSE welcomes Africa’s first nature-linked performance-based bond” (17 April 2026)
- FSD Africa, “FirstRand Bank issues inaugural nature-linked outcomes-based bond” (April 2026)
- World Bank, “World Bank Group’s IFC and Citi Sign Borrowing Facility to Expand Local Currency Financing in South Africa” (14 April 2026)
- Business Day, Michael Avery, “IFC backs innovative bond for Western Cape water security” (14 April 2026)
Provenance
Drafted on 15 October 2026 from the research brief Nature performance bond investors.md, compiled the same day from five research strands: outcome-linked and sustainability-linked bonds, environmental impact bonds, debt-for-nature conversions, insurers and reinsurers, and the largest asset managers with their regulatory context. Claim tags follow the brief, which never upgraded a claim without a source and lowered to [MS] any claim a research note had graded [IC] on the strength of a company’s own release. The headquarters country in based_in comes from general knowledge unless a deal record states it, and is to be confirmed. The brief’s search had limits: fund holdings filings, municipal bond disclosures and the Oxford INDIGO and Brookings impact bond databases were not searched, so a deal missing from this page may exist.