It's a placeholder in the string.
For example,
string b = "world.";
Console.WriteLine("Hello {0}", b);
would produce this output:
Hello world.
Also, you can have as many placeholders as you wish. This also works on String.Format
:
string b = "world.";
string a = String.Format("Hello {0}", b);
Console.WriteLine(a);
And you would still get the very same output.