The Federal Government failure to officially launch the Green Bond project in April as earlier stated has been attributed to the delay in release of 2017 budget.
According to the minister’s aide Esther Agbarakwe, the Green Bonds identified projects are all tied to the appropriation, the delay in the release of the 2017 budget is the main cause of the delay.
The launch of Nigeria first Sovereign Green Bonds aims at providing a funding option for the Country’s Economic Recovery and Growth Plan and creates a new products that the capital markets can use to revives it activity.
The Federal Government through the Ministry of Environment has been emphasizing on the need to join the global race to have a ‘Green Economy’ as part of effort to cushion the effects of climate change.
With this intent, many projects have been proposed to help in going green and one of the instruments accepted by the ministry in partnership with Ministry of Finance is investment in Green Bonds.
She however said, a new date for the launch would be announced after the passage of the budget.
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