Lagos state Governor Babajide Sanwo-Olu is pleased to announce the signing of Memorandum of Understanding (MoU) with FMDQ Group and Financial Sector Deepening (FSD) Africa on Green Bond Market agreement.
He said that with the signed MoU, Lagos becomes the first sub-national government to activate the framework for unlocking the $1 trillion Nigerian green bond market development programme to finance key infrastructure projects.
The governor noted that this is coming after, the state was upgraded to AAA(nga) rating from AA+(nga) by Fitch International for the state's good standing on debt sustainability.
He said, As a Government, we are committed to utilizing our limited resources more efficiently to create a circular economy, which is a promising and viable alternative as public spending and investments may not be enough to deliver our key objectives; therefore, the need to tap into more private investments for the transition to a zero waste and circular economy, as well as achieving crucial items of the Sustainable Development Goals (SDGs).
Governor Sanwo-Olu stated that the programme will open the doors of deep sustainable funds for infrastructure and social development for Lagos, adding that the state welcomes the transparency and commitment that comes with a Green Finance framework.
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