With close to 18 million inhabitants, Nordrhein-Westphalen (NRW) is the most populous state of Germany. In size it is the fourth largest state. Düsseldorf is the state capital.
The sustainability bond issued by Nordrhein-Westphalen finances a variety of activities and projects, which are all directly connected to the State's sustainability strategy. The majority of proceeds will be allocated to expenditures related to public healthcare and education. Examples include expansion and improvement of healthcare infrastructure in general and Covid-19 related, mental health and addiction programmes. Examples for education range from daycare to university and are intended to increase access to quality education with particular focus also on underserved populations, such as migrants. In addition, the State intends to finance the roll-out of broad band infrastructure, which will enable faster and reliable access to the internet, which has become particularly important as Covid-19 required education and business to use digital infrastructure. The expenditures also include projects and business models that promote awareness, innovation and implementation of technologies and projects that contribute to climate change mitigation, adaptation and nature conservation.