A major step forward has been taken to help Mongolia tackle its environmental challenges, with a new regulation approved by the Board of the Financial Regulatory Commission (FRC) to help grow green finance in the country.
IFC and Ghana s Securities and Exchange Commission (SEC), announced a partnership to facilitate investments in projects that address climate and environmental issues through green bonds. Under the agreement, IFC, a member of the World Bank Group, will help the SEC develop guidelines for issuers and investors for green bonds in Ghana.
The introduction of green bonds will give investors opportunities to finance green buildings, clean transportation, renewable energy, sustainable water management, and other climate-friendly projects. Green bonds will support Ghana s transition to a lower-carbon future as specified in the country s agreed contributions under the Paris Agreement.
IFC s Green Bond Program, launched in 2010, has helped catalyze the market and unlock investment for private sector projects that support renewable energy and energy efficiency. IFC has issued roughly 170 green bonds in 20 currencies amounting to over $10 billion.
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