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Nigeria plans to issue a N10.69 billion (US$29 million) debut green bond next week, the first tranche of a N150 billion programme, the Federal Ministry of Environment said on Thursday.
The bond, with a five-year tenor, will be used to fund projects to reduce carbon emissions and develop renewable energy.
“The Federal Government of Nigeria will issue the first tranche of bonds from this programme during the week of 18th of December 2017,” the Ministry said in a statement.
The programme was part of the government’s “effort to align with the global objective of expanding the market for climate finance,” it said.
An investor roadshow will take place in Abuja and Lagos on Thursday and Friday ahead of the issuance.
A Ministry spokeswoman gave the value of the first tranche to be issued and that of the overall programme. No details of the length of the programme were given. (Reuters)
