Browsing: Sustainable financing

With African Development Bank backing, Egypt is tapping Chinese capital markets to drive inclusive growth, including supporting micro and small enterprises.

Egypt has emerged as the first African country to issue a Sustainability Panda Bond, tapping into the rapidly expanding Chinese debt capital markets. The three-year Panda Bond, valued at $478.7 million, signifies Egypt’s commitment to driving economic growth through an inclusive and environmentally responsible approach, as outlined in its Sovereign Sustainable Financing Framework.…
  • Global Finance has named KCB 2022’s best bank in sustainable finance in Kenya 
  • KCB was recognised for its efforts in creating a more sustainable business enterprise through deliberate socio-economic interventions
  • The group has set a target of transitioning 25% of its total loan portfolio to green investments by 2025 as part of its Net Zero ambition

Global Finance has named Kenya Commercial Bank (KCB) the Best Bank in Sustainable Finance in Kenya 2022.

The bank was awarded owing to its efforts in creating a more sustainable business enterprise through deliberate socio-economic interventions.

The award announced by Global Finance recognises global, regional and local leadership in Sustainable Finance – funding for initiatives designed to mitigate the negative impacts of climate change, build resilience and help build a more sustainable future for humanity.

The award comes when there are calls for institutions to embrace sustainable practices through adopting the UN Sustainable Development …

Kenya among top African countries implementing reforms in sustainable finance

Thirty-eight emerging market economies, including five countries in Africa, have initiated key banking reforms to drive development and fight climate change, according to the second Global Progress Report of the IFC-facilitated Sustainable Banking Network (SBN).

The SBN Global Progress Report shows that regulators and banking associations in countries in Africa are adopting national sustainable finance policies and voluntary principles as well as advancing green bond markets and innovative green lending policies.

“African countries will be among the hardest hit by climate change and Africa already faces daunting challenges around job creation and inequality,” said Kevin Njiraini, IFC’s Regional Director, Southern Africa & Nigeria. “Advancing sustainable finance is critical to help the region build competitive and resilient financial services that support inclusive economic development.”

In addition to providing practical resources for countries undertaking sustainable finance reforms, the report also highlights the knowledge shared by SBN members – a hallmark approach of …