The Bank for International Settlements (BIS) has set up a fund for investments by central banks in green bonds. In this way, the BIS responds to the growing demand for climate-friendly investments at official institutions and helps central banks to include sustainability objectives in the management of their reserves. The BIS is also called the bank of central banks. The institution was established in 1930 to settle German reparations after the First World War. Later, the BIS started to focus more on aligning the policies of the many national central banks in the world. The institution now offers financial services to around 140 central banks, monetary authorities and international organizations.