EBRD to invest US$19m green bond for Morocco’s national railway operator

MOROCCO – The European Bank for Reconstruction and Development (EBRD) has announced a €19.2 million (US$19.50m) investment in a green bond issue by Morocco’s national railway operator Office National des Chemins de Fer du Maroc (ONCF). The investment in a certified green bond of €95 million (US$96.50m) by the rail operator will be utilised for the refinancing of debt used…

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EBRD invests US$100M in Egyptian solar power green bond

EGYPT – The European Bank for Reconstruction and Development (EBRD) is investing US$100 million in a certified green bond issuance of US$334.5 million, backed by Scatec’s six solar power plants in Egypt. The Bank is also providing a US$30 million Credit Enhancement Facility (CEF) for participating institutional investors. Certified under the Climate Bonds Standard, this bond is the first private…

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IPP Access Aussenkehr starts work on the 20 MWp Khan solar power plant

NAMIBIA – Independent power producer (IPP) Access Aussenkehr Solar One Namibia has launched the construction of the Khan solar photovoltaic power plant in the Erongo province of Namibia. The project involves the construction of a ground-mounted solar photovoltaic power plant with a capacity of 20 MWp. The Namibia-based independent power producer (IPP) will invest no less than N$300 million (US$20.6…

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IFC partners with Ghana’s Securities and Exchange Commission to develop Green Bonds market

GHANA – IFC, a member of the World Bank Group, has partnered with Ghana’s Securities and Exchange Commission (SEC) to facilitate investments in projects that address climate and environmental issues through green bonds. SEC is the apex regulatory body of the Securities Industry in Ghana mandated to regulate and promote the growth and development of an efficient, fair, and transparent…

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Nedbank issues green bond backed by IFC to fund green residential developments in South Africa

SOUTH AFRICA – To help improve access to certified green homes in South Africa, International Finance Corporation (IFC) and Nedbank have announced the issuance of a green residential development bond under Nedbank’s domestic medium-term note program, with IFC as the anchor investor. This is the first green bond by a commercial bank in Africa focused on green residential housing developments.…

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Côte d’Ivoire shopping mall owner issues first corporate green bond

CÔTE D’IVOIRE – Emergence Plaza, the promoter of the Cosmos Yopougon shopping center in Abidjan, succeeded in mobilizing the 10 billion FCFA (US$18.1m) sought as part of its bond loan launched in July. The firm announces that it has closed the oversubscribed operation which is the first issue of private initiative green bonds from Frenchspeaking West and Central Africa. “It…

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IFC set invest US$100m in Egypt’s first private sector green bond

EGYPT – International Finance Corporation (IFC), a World Bank member, announced that it is investing US$100 million in Egypt’s first private sector green bond, which will be issued by the Commercial International Bank (CIB) in June. CIB’s green bond is expected to increase lending to businesses that are willing to invest in eco-friendly initiatives and projects, including green buildings, and…

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Acorn Holdings sees oversubscription of final tranche of its Green Bond

KENYA – Property developer Acorn Holdings Limited has closed the final tranche of its Medium-Term Green Note Programme under which the first Green Bond was launched. In a statement, the company says the bond has raised KSh2.096 billion (US$19.4 million) against a target of KSh1.438 billion (US$13.3 million) representing a subscription rate of 146 percent. The green bond was launched…

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Ghana signs agreement with IFC for development of green bond market

GHANA – The International Finance Corporation (IFC) has just signed an agreement with the Ghana Securities Commission (SEC) for the development of the green bond market in Ghana. The World Bank’s private sector financing arm is thus including the West African country in its Green Bond Programme. Issued on the financial markets, green bonds make it possible to support projects…

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