A new conservation bond dubbed the ‘rhino-bond’ has been created by the World Bank , that aims to protect black rhinos in South Africa from poaching threats.
The five-year bond will see the protections for the black-rhino population in Addo Elephant Park and the Great Fish River Nature Reserve be taken even further, with over $150 million being invested into the scheme. If rhino numbers increase, investors will be rewarded financially, however if numbers decrease, the investors will risk a loss.
The increased conservation efforts should also be beneficial for other species in the surrounding areas that share the same habitat, which theoretically in turn, can help boost South Africa’s national economy through tourism and job creation.
“As South Africa we are excited to be at the forefront of an innovative new financial instrument aimed at boosting our efforts to protect the world’s largest rhino population.” - said Minister Barbara Creecy, the Minister of Forestry, Fisheries and the Environment, South Africa.