The World Bank on Wednesday said its private sector arm issued about $165 million in ‘women's bonds' in the first such sale by the development lender specifically aimed at raising money for businesses owned or run by women in emerging markets.

Bonds tied to social or environmental targets are part of a new trend in social finance, according to Reuters.

This follows the World Bank's sale of several billion dollars in "green bonds" over the past five years, whose proceeds go to help countries cut greenhouse gas emissions and adapt to climate change.

(READ the story from Reuters)