World Bank President David Malpass said central banks should reduce long-term bond holdings rather than shrinking short-term assets, as this would free up more bank capital for small business loans and could help tame inflation. Malpass told a news conference that the central banks' amassing of massive balance sheets has crowded out capital available for small businesses.

San Antonio Water System has taken advantage of the current low-interest rate environment to refinance outstanding debt for savings. Today, SAWS refinanced more than $100 million of its water system revenue bonds, saving ratepayers more than $41 million over the next 21 years.

Minnesota Senator Tina Smith is one of two senators trying to jumpstart economic development in underserved communities. Smith and South Dakota Republican Senator Mike Rounds introduced a bill called the CDFI Bond Guarantee Program Improvement Act. The bill would strengthen and expand Community Development Financial Institutions, which play a critical role in bringing capital and financial services to a wide range of underserved communities.

Maine-based GO Lab closed on an $85M green bond sale and New Markets Tax Credit transaction, the company announced in a release on Thursday. The money will now enable CIanbro, the lead contractor hired by GO Lab, to build three manufacturing lines that will produce wood fiber insulation. 

The city of Berkeley is set to become one of the first cities in the nation to incorporate blockchain technology in its municipal bond market. This announcement comes after a unanimous city council vote granted authorization for the city manager to work with a firm that will provide support to the city in developing a microbond financing program. The city of Berkeley has been working to develop the new blockchain market since 2019, according to the release.

The COVID-19 pandemic has put a lot of pressure on municipal bonds. While general obligation bonds remain safe, revenue bonds backed by universities, senior housing, and convention centers are at risk. Fortunately, the resurgence of bond insurance has helped many investors gain peace of mind amid the evolving crisis.

Eddy County issued $40 million of industrial revenue bonds (IRB's) for a solar project by Chevron USA to power its oilfield operations. Eddy County's Board of County Commissioners approved the bonds on Dec. 21 for a 20-megawatt project on 300 acres of New Mexico State Land Office leased land.

When the Industrial Development Authority, or IDA, of Cape Girardeau County authorized revenue bonds totaling more than $147 million for Cape Girardeau's two health care systems in March and April this year, it pushed the total amount of bonds issued by the entity to more than $1.1 billion since its inception in 1979.

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