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Ghana Securities Commission has signed an agreement with the International Finance Corporation to develop a green bond market.
- This partnership is under the IFC’s Green Bond Programme launched in 2010.
- The IFC has issued about $10.387 billion via 172 bonds in 20 currencies under the Green Bond Programme.
Ghana Securities Commission (SEC) has signed an agreement with the International Finance Corporation (IFC) to develop a green bond market. Green bonds help raise financing for sustainable projects that reduce emissions and promote the green energy transition. Ghana is set to utilise the green bond scheme to increase the development of sustainable projects.
Under this partnership agreement, the IFC will help the Ghanaian authorities develop the country’s green bond market. According to the CEO of the SEC, Daniel Ogbarmey Tetteh, “the introduction of green bonds will give investors the opportunity to finance green buildings, clean transport, renewable energy, sustainable water management and other climate-friendly projects. Green Bonds will support Ghana’s transition to a lower-carbon future, as specified in Ghana’s agreed contributions to the Paris Climate Agreement.”
This partnership is under of the IFC’s Green Bond Programme. The programme initiated in 2010 and aims to increase the spate of investment for private-sector clean energy and energy efficiency projects. The programme is supported by the Swiss State Secretariat for Economic Affairs (Seco), the Swedish International Development Cooperation Agency (Sida) and the Luxembourg government.
In 2020, the IFC noted that the Green Bond Programme had issued about $10.387 billion via 172 bonds in 20 currencies. Ghana is set to join countries such as Egypt, South Africa, Nigeria, Namibia, and Kenya using the IFCGreen Bond Scheme to facilitate increased sustainable projects development.