Nigeria: FG to issue Green Bonds to fund N52bn climate-friendly projects
Friday, 10 February 2017 16:43
The Federal Government of Nigeria has identified climate-friendly projects valued at N52 billion ($165 million), according to the Permanent Secretary of the Ministry of Environment, Bukar Hassan.
Hassan who declared this during a meeting of Permanent Secretaries on Green Bonds in Abuja said the project would be financed through Green bonds.
He noted that the government plans to issue the first sovereign green bond by March, this year.
According to the Adviser on Climate finance, Ministry of Environment, Obi Ugochukwu, the first climate project would begin by March and create about 214, 000 jobs. The pilot project would cover afforestation programme that would result in more tree planting in selected states.
Ugochukwu stated that the green bond would also finance alternative sources of energy in 37 universities and 7 teaching hospitals while 20,000 solar units would be distributed nationwide.
Partners on this projects are, UNEP, World Bank, Department of International Development (DFID) and financial institutions like Nigeria Stock Exchange, Stanbic IBTC and Citi bank.
Anita Fatunji
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