PBR: ISA savers can now invest in World Bank schemes

Outlined in today's Pre-Budget Report, ISA savers will be able to pour money into securities issued by Multilateral Development Institutions, such as those run by the World Bank. These institutions, which often receive grants from foreign governments, issue securities to front-load funding for development goals. TISA director general Tony Vine-Lott says the UK Government approached the association eight months ago to gauge an industry response to the new eligible investment area. "They (Treasury) wanted to know whether or not the industry would accept this type of investment," he says. ...