This primer explains how theme bonds can help finance coronavirus disease (COVID-19) recovery programs and projects while catering to specific targets such as environmental sustainability, infrastructure development, and social protection. In Asia and the Pacific, investment demand for green, social, and sustainability bonds is increasing. This primer discusses the progress of theme bonds in recent years and shows how demand has gained traction as governments reallocate their budgets to address economic, social, and environmental impacts of the COVID-19 pandemic.