This archive report was first published on 21 November 2021.
Kenya is set to issue its fifth Eurobond, targeting KSh 105.6 billion in the next fiscal year, as the National Treasury seeks to tap into green financing.
According to the draft 2022 Budget Policy Statement, published on November 21, 2021, the Treasury aims to float its first green bond to finance green and climate-related projects and programmes.
The government has already issued four Eurobonds in the last seven years, netting a total of KSh 880 billion ($7.85 billion), with the latest being the $1 billion (KSh112 billion) raised in June this year.
As part of the net external budget deficit financing amounting to Sh363 billion in the 2022/2023 fiscal year, the Treasury plans to tap into green financing by issuing the first Sovereign Green Bond.
Over the last three years, the Government has been developing the green bonds market with a view to mobilizing adequate resources to support the implementation of climate and environmental actions in Kenya.
