Kenya aims to issue its first ‘green’ bond this year, the initiative’s backers said on Friday, bolstering the nation’s reputation for financial innovation after the government launched the world’s first mobile phone bond earlier this month.
The proceeds from so-called green bonds help finance projects in the renewable energy, energy-efficiency, green transport and wastewater treatment sectors.
France and Poland both issued green bonds in the last four months, becoming the first nations to venture into territory previously dominated by development banks and companies.
“I believe we will have the first green bond issued this year,” said Lamin Manjang, chairman of the Kenya Bankers Association (KBA), which is spearheading the green finance initiative.
Read more: Kenya sets sights on green bonds after mobile phone issue| Reuters
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