Kenya to Debut $500 Million Sustainability-Linked Bond
- Nation is working with World Bank on issuance of SLB
- Will be first in Africa to issue a sustainability-linked bond
Giant Lobelia plants grow around rock formations on Mount Kenya in Mount Kenya National Park.
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The World Bank is aiding Kenya to issue Africa’s first sustainability-linked bond by the end of this year, as the East African nation broadens its external funding sources.
The $500 million bond, which will have pre-determined sustainability performance goals, is expected to be issued by November, said Isfandyar Zaman Khan, lead financial sector specialist at the World Bank Kenya. “Kenya has promised a very ambitious sustainability agenda, which includes not just climate, but also social and health and energy.”