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The service was currently focusing on the issuance of N150 billion green bonds in 2018

Lagos – Following expanded calls for atmosphere financing, Mr Ahmad Salihijo, a specialized aide to the Minister of Environment, said the service intended to issue N150 billion green bonds to general society. Eurobonds Salihijo uncovered this in a board discourse on Making Climate Finance Work for Women and Non-State Actors sorted out by Climate Wednesday in the simply finished up online networking week in Lagos. Green bonds, otherwise called atmosphere bonds, are settled pay securities issued to back tasks that have positive effect on nature and give answer for change. 

Nigeria’s presentation issuance of Green bonds was a piece of numerous endeavors coordinated towards its Paris based NDC duties. He said following the accomplishment of presentation issuance of N10.69 billion bonds issued in 2017, the service was currently focusing on the issuance of N150 billion green bonds in 2018. “Everyone is amped up for the possibility of atmosphere subsidizing, everyone needs to be a piece of it. Exceptionally trustworthy associations inside and universally are supporting us. 

“We will utilize the achievement of our first issuance to perceive how we can issue more. Where we are currently, seeing the accomplishment of the principal issue, our objective this year is N150 billion. As of now we are getting more recommendations and support,” he said. The specialized counselor uncovered that returns from the green bonds are directed towards three noteworthy ventures.

 “We thought of rules for the green bonds, where we classify the utilization of continues. We could guidance different MDAs on the most proficient method to put these bonds. “As at today, green bonds have issued N10.6 billion more than three activities. “The primary undertaking is the Energizing Education Project enlisted with the Federal Ministry of Power under the Rural Electrification Agency, the second task is the Rural Electrification Municipal Project additionally under the Federal Ministry of Power and the third venture is the Afforestation Project which is enrolled under the Federal Ministry Of Environment,” he said. Salihijo said the achievement of the green securities in Nigeria brought about a positive evaluation by the universal Climate Bond Initiatives, where the nation is appraised as the main nation in Africa with such confirmation. ” We could get an evaluation by the Climate Bond Initiatives.

 This is an extremely uncommon accomplishment for the nation, we are the main ones in Africa that has that affirmation from the Climate Bond Initiatives. “To get the confirmation we needed to experience a thorough procedures where every one of our tasks were considered precisely,” he said

Lagos – Following
increased calls for climate funding, Mr Ahmad Salihijo, a technical
assistant to the Minister of Environment, said the ministry planned to
issue N150 billion green bonds to the public.
Eurobonds
Eurobonds

Salihijo revealed this in a panel discussion on Making Climate Finance
Work for Women and Non-State Actors organized by Climate Wednesday in
the just concluded social media week in Lagos.

Green bonds, also known as climate bonds, are fixed income securities
issued to finance projects that have positive impact on the environment
and provide solution to change.

Nigeria’s debut issuance of Green bonds was part of many efforts
directed towards its Paris based NDC commitments.

He said following the success of debut issuance of N10.69 billion bonds
issued in 2017, the ministry was now targeting the issuance of N150
billion green bonds in 2018.

“Everybody is excited about the idea of climate funding, everybody wants
to be a part of it. Highly reputable organizations within and
internationally are supporting us.

“We will use the success of our first issuance to see how we can issue
more. Where we are now, seeing the success of the first issue, our
target this year is N150 billion. Already we are getting more proposals
and support,” he said.

The technical adviser revealed that proceeds from the green bonds are
channeled towards three major projects.

“We came up with guidelines for the green bonds, where we categorize the
use of proceeds. We were able to advice other MDAs on how to place
these bonds.

“As at today, green bonds have issued N10.6 billion over three projects.

“The first project is the Energizing Education Project registered with
the Federal Ministry of Power under the Rural Electrification Agency,
the second project is the Rural Electrification Municipal Project also
under the Federal Ministry of Power and the third project is the
Afforestation Project which is registered under the Federal Ministry Of
Environment,” he said.

Salihijo said the success of the green bonds in Nigeria resulted in a
positive assessment by the international Climate Bond Initiatives, where
the country is rated as the only country in Africa with such
certification.

“ We were able to get an assessment by the Climate Bond Initiatives.
This is a very rare achievement for the country, we are the only ones in
Africa that has that certification from the Climate Bond Initiatives.

“To get the certification we had to go through a rigorous processes
where all our projects were studied carefully,” he said

Read more at: https://www.vanguardngr.com/2018/03/nigeria-issue-n150bn-green-bonds-2018/

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