Lagos State Govt, FMDQ Sign MoU On N25bn Green Bond

Governor Babajide Sanwo-Olu has signed a Memorandum of Understanding (MoU) on Green Bond Market with FMDQ Group and Financial Sector Deepening (FSD) Africa, which are the programme’s implementing partners on the proposed N25 Billion (over $60million) financing.

With this, Lagos State became the first sub-national government to activate the framework for the unlocking of the $1trillion Nigerian Green Bond Market Development Programme to finance key infrastructure projects.

Launched in 2018, the Green Bond Market Development Programme seeks to facilitate development of a green bond market to support broader debt capital markets reforms that will impact the sovereign and non-sovereign bond markets in the country.

Sanwo-Olu at the signing of the MOU said that the green bond programme, supported by the UK Agency for International Development (UK Aid), would raise the capacity of the State Government to deliver more key infrastructure and social projects that would keep Lagos on the path of prosperity.