Kenya: Financial institutions' programme to promote funding of climate-resilient initiatives

Author: Kenya Bankers Association , Published on: 5 April 2017

"Kenya Green Bond Programme Kicks-off with Strong Backing from Banking Industry and Development Finance Community"

The Kenya Bankers Association (KBA), Nairobi Securities Exchange (NSE), Climate Bonds Initiative (CBI) and Financial Sector Deepening Africa (FSD Africa) in conjunction with the FMO - Dutch Development Bank and the International Finance Corporation (IFC) have today launched Kenya's Green Bond programme...Through the partnership and funding from FSD Africa, a technical support programme will be implemented that will enable the Association to carry out research to explore the potential and capacity for green bond issuance in Kenya. In addition, it will enable the development of a community of Kenyan-based licensed verifiers and support KBA's efforts in building capacity locally to catalyze similar programmes across East Africa...

During the launch, the CEO of [Kenya Bankers Association] Habil Olaka said: "We are very pleased and excited to announce this partnership. This alliance has given us the opportunity to work closely together as a sector in developing Kenya's green finance market through the green bond programme..." The Chief Executive of [the Nairobi Stock Exchange] Mr. Geoffrey Odundo noted," The Exchange is committed to developing a vibrant green market for this region; we aim to create an environment that will allow the market to prosper in a secure and transparent way. Through the NSE, issuers and investors will have a platform where they can come together and fulfil their green objectives. The Kenya Green Bond Program is an innovative tool that will promote economic and climate resiliency for our country."

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