NAIROBI, Aug 15 (Reuters) – Kenya has approved its first ever issuance of a green bond, which will raise 5 billion shillings ($48.45 million) for student accommodation, the capital markets regulator CMA.
So-called green bonds are fixed income securities that raise capital for projects in renewable energy, energy efficiency, green transport and waste-water treatment.
The bond, to be issued by a Nairobi-based property developer called Acorn, comes after authorities unveiled new rules in February designed to guide the issuance of green bonds.
“The issuance is a critical step in advancing the development of an effective ecosystem to support the establishment of green capital markets in Kenya,” the CMA said in a statement.
Read more: https://www.reuters.com/article/kenya-bonds-green/kenya-approves-issuance-of-first-green-bond-idUSL8N25B1TQ