The World Bank and its subsidiary the International Finance Corporation have launched $4bn (€4.45) of global bonds between them in a market hungry for high quality dollar bond issues.

The IFC is the World Bank arm which provides loan and equity finance to the developing world. Its $1bn issue, which will price on Thursday, has been expected for some time. Lead managers HSBC and Schroder Salomon Smith Barney began marketing the transaction a few weeks ago.