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Ghana Mulls Africa’s First Social Bonds With $2 Billion Sale

  • Some proceeds to refinance debt from flagship school project
  • Poor access to vaccines has left economy vulnerable to shocks
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Ghana is planning to issue green and social bonds of up to $2 billion by November, which would make it the first African country to sell debt to fund development programs.

The West African economy, which is planning to borrow up to $5 billion on international markets this year, would use the proceeds from these sustainable bonds to refinance debt used for social and environmental projects and pay for educational or health, Ghanaian Finance Minister Ken Ofori-Atta said in an interview in the capital, Accra.