On April 27, the International Finance Corporation, the World Bank's private sector affiliate, announced it has raised $500 million for climate-friendly investment in its first round of “green bonds.” The funds will support investments in developing country renewable energy, energy efficiency, and other climate-friendly projects. This round of fund-raising, focused on American investors, includes commitments from BlackRock, TIAA-CREF, and the California State Teachers' Retirement System.