The World Bank is original with a bond for the black rhino

The World Bank has issued a wildlife protection bond for the first time, raising $ 150 million for the black rhino, Africa's flagship endangered species.

The five-year bond issued on Wednesday will only bring in profits to investors if the population of the species grows in two South African national parks, the bank said. In case of increase the yield will range from 3,7% to 9,2%.

The black rhino (Diceros bicorni) is one of the five modern species in the rhino family and one of two species living in Africa alongside the white rhino. Despite their names, both African species are gray.

From the 1970s to the 90s, the black rhino population declined by 96% to less than 2.500, mainly due to poaching: rhino horns are sought after for traditional "cures" in China and the Middle East.

Since then, large-scale conservation programs have led to an increase in population of about 5-5,5 thousand people, according to Save The Rhino International, based in London.

South Africa is home to about half of the total black rhino population, according to the WWF.

"The 'pay for success' economic structure protects an endangered species and strengthens South Africa's defense efforts by leveraging the World Bank's infrastructure and capital market performance," said David Malpa, president of the financial institution.

in.gr