Continuously Offered Longer-Term Securities - COLTS

DEFINITION of 'Continuously Offered Longer-Term Securities - COLTS'

A 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.

BREAKING DOWN 'Continuously Offered Longer-Term Securities - COLTS'

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.