The Securities and Exchange Commission (“SEC”) has approved the book build in respect of the proposed green bond, issued by Access Bank Plc (“Access Bank”). Access Bank in anticipation of the approval, launched the Nigerian Green Bond Market Development Programme in June 2018 in partnership with FMDQ OTC Securities Exchange and the SEC. The focus of the programme will be the development of guidelines and listing requirements for issuing green bonds in the Nigerian capital markets. The proceeds of the bond will be used to finance eligible green projects that meet the Climate Bonds Initiative. The Climate Bonds Initiative is an investor-focused, non-profit mobilizing investment from the capital market aimed at providing climate change solutions. This is a laudable development as the regulation demonstrates the growth and regulatory recognition of importance of the capital market sector in Nigeria.
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