Lagos to Raise N25bn through Green Bond

Lagos State Governor, Babajide Sanwo-Olu has signed a memorandum of understanding with FMDQ Group and Financial Sector Deepening Africa, on the proposed N25 billion green bond issuance by the state.

The funding opportunity, he said, would advance adoption of innovation and technologies to provide green jobs, thereby promoting economic and climate resiliency. “As a state, we embrace the transparency and commitment that comes with a Green Finance framework. We believe it sends an important signal to investors in the market about who we are: a State that is fiscally responsible, prudent and disciplined.”

The Special Adviser to the Governor on Sustainable Development Goals and Investment, Mrs. Solape Hammond, said the journey to get the framework approved started last year, disclosing that the MoU highlighted key projects to be delivered by the state government to actualise economic sustainability. Also commenting, the Chief Executive Officer of FMDQ Group, Mr. Bola Onadele, said Lagos had built reputation and “incredible potential” for catalysing broad-based sustainable development, which explained the partners’ readiness to support the State in unlocking the capital to fund key projects.

The borrowing frenzy has to go on. From buhari to 'pontus'. Keep accumulating debt. Don't restructure or split. zooinshambles EndNigeriaNow

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