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IFC to issues green bonds in Ghana
GHANA THE IFC is to help Ghana’s Securities and into the IFC’s deep knowledge and develop a
Exchange Commission (SEC) issue a new gen- comprehensive reference guide appropriate for
eration of green bounds that aim to boost private the Ghanaian market,” said Daniel Ogbarmey
investment in the country’s renewables sector. Tetteh, director-general of Ghana’s SEC.
The IFC, a member of the World Bank Group, “Finding new avenues for green financing is
will help the SEC develop guidelines for issuers a key priority for the IFC. Our partnership with
and investors regarding green bonds in the West the SEC to design the framework for green bonds
African country. in Ghana will in turn help Ghana achieve its cli-
The introduction of green bonds will give mate goals with projects that create jobs and spur
investors opportunities to finance green build- economic growth,” said Ronke Ogunsulire, the
ings, clean transportation, renewable energy, IFC’s country manager for Ghana.
sustainable water management and other The development of green bonds guidelines
climate-friendly projects, the IFC said in a for Ghana is an initiative of the IFC’s Green Bond
statement. Market Development Programme, supported by
Green bonds will support Ghana’s transi- the Swiss State Secretariat for Economic Affairs
tion to a lower-carbon future as specified in the (SECO), the Swedish International Develop-
country’s agreed contributions under the Paris ment Cooperation Agency (SIDA) and the Lux-
Agreement. embourg government.
The IFC’s Green Bond Programme, launched The IFC has played a leading role in devel-
in 2010, has helped catalyse the market and oping guidelines for the green bond market
unlock investment for private sector projects that globally. In Africa, it has assisted Egypt, Kenya,
support renewable energy and energy efficiency. Morocco, Tunisia, the West African Economic
The IFC has issued roughly 170 green bonds and Monetary Union, and the Economic Com-
in 20 currencies amounting to over $10bn. munity of Central African States.
“This partnership will enable the SEC to tap
P8 www. NEWSBASE .com Week 18 06•May•2021
