Continuously Offered Longer-Term Securities. COLTS are sold by the World Bank, and are offered as one of three classes of bonds: 3-year to 30-year fixed rate bonds, variable rate bonds, or zero-coupon bonds. type of bond that’s been sold by the World Bank since 1989 in order to finance its operations. The bonds range in length from three to 30 years and can be fixed rate, variable rate or zero coupon.
Bank management comes up with the terms and conditions of the bonds at the time COLTS are offered. These bonds are similar to other bonds that issued by the World Bank.A
The World Bank provides financial assistance to developing countries in the form of low-interest loans, no-interest credit and grants. This money helps fund education, health, agriculture and other development initiatives.