Home Uncategorized FG to sets to issue N150 billion bond for green projects

FG to sets to issue N150 billion bond for green projects

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The Federal Government has decided to issue the first N150 billion green bond on Monday to finance green projects.

Shedding light on the bond, in Abuja, on Thursday, the Director General of Debt Management Office (DMO) Patience Oniha, said that the bond was meant to achieve its Nationally Determined Contributions (NDC) towards the Paris Agreement.

According to her, the green bonds were used, exclusively, to fund projects that have specific environment and climate benefits.

Ohia, while speaking during a Green Bond Investment Forum said that the pilot project would cost about N10.60 billion, adding that the balance would spread across the budget.

According to her, the event was to focus largely on technical issues on green bonds and the transaction summary, saying that the government would use the money for specific projects classified as green.

It is gathered that the pilot projects are Energizing Education Program (EEP), Renewable Energy Micro Utility (REMU), Afforestation programme and Clean Energy Transportation.

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