Green, Social, and Sustainable (GSS) bonds market remains a new frontier for Africa that will help the continent build a deeper, resilient and sustainable financing, according to policymakers, regulators, and peer sovereign issuers from across West Africa.
The experts were speaking at a virtual workshop on GSS Bond Market Development to build awareness and explore the potential issuance of GSS bonds in West Africa by sovereign government issuers or subnational entities.
The virtual workshop was co-organized by the Economic Commission for Africa (ECA) and the World Bank and the United Nations on 26 May in West Africa.
Hanan Morsy, ECA’s Deputy Executive Secretary said, “As an innovative finance instrument, GSS bonds help fill the SDG financing gap. While sharing characteristics with traditional bonds, GSS bonds exclusively direct financing to projects with positive climate and environmental outcomes across energy, transportation, construction, agriculture and water sectors.”