Swedish ICMIF member the Folksam Group has invested SEK 700 million in a social bond issued by the International Finance Corporation (IFC), part of the World Bank that targets the private sector. The bond is issued to provide financial support to companies affected by the Covid-19 pandemic.
The purpose of the support is to enable companies to continue to conduct their business and retain their employees. Companies in strategic sectors such as medical equipment and pharmaceuticals will be given direct support to, among other things, ensure that supply chains can be maintained.
Ylva Wessén (pictured), President and CEO of the Folksam Group and a member of the ICMIF Board said: “We are excited about this opportunity to help the fight against the negative effects of Covid-19 and create security for companies and their employees through our investment.”
Ylva continued: “The pandemic we are now experiencing has a major global impact on all parts of society. At the Folksam Group, we are currently trying to do everything possible to run our business safely for our customers and employees. Our customer service answers calls, our claims regulators take care of our customers' injuries and we continue to insure new customers.”
“Our first and biggest focus is always our customers…and it is a challenging time for all of us today. We are doing our utmost to make our customers and employees feel safe while helping to reduce the spread of the corona virus,” said Ylva Wessén.