By Dipo Olowookere
Federal Government has commenced a roadshow to sensitise prospective investors as part of preparations towards the issuance of its ﬁrst Sovereign Green Bond.
The roadshow is organised by the Debt Management Ofﬁce (DMO) and will hold in Abuja and Lagos on December 14 and 15, 2017.
The offer, which is for N10.69 billion, will be advertised in various media including newspapers and the DMO’s website to enable the public subscribe for the bonds.
The Green Bond is being issued following Nigeria’s endorsement of the Paris Agreement on Climate Change on September 21, 2016.
The Paris Agreement aims to strengthen the global response to the threat of climate change and since the signing of the agreement, various countries who are parties to the agreement have initiated several steps aimed at making the environment better.
The Green Bond proceeds will be used to ﬁnance projects in the 2017 Appropriation Act that have been certiﬁed as Green because of their positive effects on the environment.
Amongst these projects are the Renewable Energy Micro Utilities and Afforestation Programmes.
With the Green Bond Issuance, Nigeria will become one of the few countries in the world and indeed the ﬁrst African country to issue a Green Bond.
Moody’s Investors Service has assigned a GB1 (Excellent) Green Bond Assessment to the issuance.
The DMO is working with the Federal Ministry of Environment towards the issuance while Chapel Hill Denham is the Financial Advisers to the Transaction.
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