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Climate Bonds Initiative and FMDQ OTC Securities Exchange Partner with FSD Africa Cooperation Agreement aims to develop a Nigerian Green Bond Programme

 

LONDON - March 20, 2018 (Investorideas.com Newswire) The Climate Bonds Initiative, FMDQ OTC Securities Exchange and Financial Sector Deepening Africa (FSD Africa) have jointly committed to develop a Green Bond Programme in Nigeria. A Cooperation Agreement to deepen green finance in Nigerian debt capital markets, has been signed today between the three organisations at the Climate Bonds Initiative annual conference in London.

Access to finance has been identified as one of the key challenges to achieving a green transition. Green bonds are tool for mobilising private capital towards financing the transition, tapping into growing demand for longer term, low-carbon and climate resilient investments.

The Federal Government has included green bonds as an option to finance the programmes and projects identified in Nigeria's Nationally Determined Contributions (NDC) on climate change, with a focus on addressing key challenges such as poverty, unemployment, environmental degradation, climate change, the infrastructure gap and food security.

Green Bonds have the potential to deliver the low carbon, climate resilient infrastructure needed in Nigeria including renewable energy, low-carbon transport, water infrastructure and sustainable agriculture. Increasing access to both domestic and international bond markets and capital pools is an increasingly important strategy in supporting low carbon growth and national development goals.

Evans Osano, FSD Africa, Director - Capital Markets Development:

"This partnership provides a new opportunity for our three organisations to work closely together in developing Nigeria's debt capital markets through the green bond programme. It is expected that this programme will improve access to a complementary source of longer-term capital alongside traditional, shorter term bank loans, while contributing to the financing of 'green' investments and improving the environment."

Bola on Adele, FMDQ OTC Securities Exchange, CEO:

"As a Securities Exchange with a passion for developing the Nigerian Capital Markets, FMDQ is excited and optimistic that our pursuit to develop a Green Bond market in partnership with reputable institutions such as FSD Africa and the Climate Bonds Initiative will help address infrastructure gaps and environmental challenges in a sustainable manner to deliver prosperity for Nigerians."

Justine Leigh-Bell, Climate Bonds Initiative, Director – Market Development:

"Nigeria has the opportunity to be a regional driver of green finance, demonstrating how Africa can leverage long-term capital to meet its vast infrastructure needs. In turn this will help establish a secure and sustainable future with new economic opportunities."

"We are very pleased to be partnering with FSD Africa and FMDQ in this exciting and much needed market development programme for Nigeria."

About Climate Bonds Initiative:

The Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low-carbon economy. For more information, please visit www.climatebonds.net

About FMQ:

FMDQ OTC Securities Exchange is Nigeria's foremost debt capital, foreign exchange and derivatives over-the-counter securities exchange, strategically driven to transform the Nigerian financial markets through its "GOLD" (Global Competitiveness, Operational Excellence, Liquidity and Diversity) Agenda.

With an average annual market turnover of circa ₦118 trillion, about $600 billion, over the last three years, FMDQ operates the largest securities exchange in Nigeria. More information here.

About FSD:

Created in 2012, FSD Africa is a £65 million financial sector development programme or FSD based in Nairobi. It is funded by UK aid from the UK Government. FSD Africa aims to reduce poverty across sub-Saharan Africa by building financial markets that are efficient, robust and inclusive. More information here.

For more information, please contact:

Andrew Whiley,
Head of Communications and Media
Climate Bonds Initiative
+44 (0) 7914 159 838)

Olumide Lala
Africa Programme Manager
Climate Bonds Initiative
London | Lagos
M +44 7957 375086
M +234 7081675736

Disclaimer: The information contained in this communication does not constitute investment advice in any form and the Climate Bonds Initiative is not an investment adviser. Any reference to a financial organisation or debt instrument or investment product is for information purposes only. Links to external websites are for information purposes only. The Climate Bonds Initiative accepts no responsibility for content on external websites.

The Climate Bonds Initiative is not endorsing, recommending or advising on the financial merits or otherwise of any debt instrument or investment product and no information within this communication should be taken as such, nor should any information in this communication be relied upon in making any investment decision.

Certification under the Climate Bond Standard only reflects the climate attributes of the use of proceeds of a designated debt instrument. It does not reflect the credit worthiness of the designated debt instrument, nor its compliance with national or international laws.

A decision to invest in anything is solely yours. The Climate Bonds Initiative accepts no liability of any kind, for any investment an individual or organisation makes, nor for any investment made by third parties on behalf of an individual or organisation, based in whole or in part on any information contained within this, or any other Climate Bonds Initiative public communication.


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