World Bank commits to helping Africa in the conquest of the green bond market

May 7, 2019

(Ecofin Agency) - World Bank is more than ever committed to helping Africa in its green bonds operations to help the continent adapt to climate change and reduce its impacts.

“With our partners in Sub Sahara Africa, we concentrate on adaptation and resilience to climate warming. For instance, we support projects for sustainable land management, the vulgarization of climate resilient farming or the increase of the energy production capacity with renewable energy sources,” said George Richardson (photo), World Bank's Head of Capital Markets, in an interview with Ecofin Agency.

The financial institution provides technical and consultancy assistance for the regulation, issuance and reporting of green bonds. It also helps institutional investors include environmental and social strategies in their investment plans.

The growth of the green bond market has created a shift in the practices of issuers. They are now more demanding as far as transparency in fund management and the inclusion of environmental and social factors in the various programs supported are concerned.