Ghana will join the 37 countries of the world that have already issued green bonds. The objective of these bond issues will be to finance the fight against the effects of climate change through the implementation of environmentally friendly projects.
The « First National Bank » should be put to use, according to the approach of the Ghana Ministry of Finance to « issue sustainable, ecological and socially responsible bonds with the aim of developing innovative solutions to finance projects with social and environmental impact positive on Ghana’s economy »
The long-term challenge for Ghana, according to the officials, is to accelerate the implementation of the Paris Agreement on Climate and the United Nations Sustainable Development Goals (SDGs) and « mobilize funding for environmentally friendly projects that have an impact on climate change and support the transition to a low-carbon economy. »
In Africa, Nigeria and the City of Cape Town are the only ones to have issued green bonds alongside Moroccan banks including BCP.