IFC, Financial Market Council begin consultations for the implementation of the guiding principles for green bonds in Tunisia
26-09-2019 11:14:00 | by: Pie Kamau | hits: 1919 | Tags:

IFC, a member of the World Bank Group, and the Financial Market Council today launched a series of consultations aimed at leading to the development of the guiding principles of the Tunisian green bond market, social and sustainable.

Green, social and sustainable bonds are similar to traditional bonds, but with this additional feature of allowing the financing of climate change projects with positive social spin-offs. They also contribute to meeting the United Nations Sustainable Development Goals (SDGs).

"Through this successful partnership with IFC, the Financial Market Council is able to provide the necessary information to both issuers and investors to begin this process of consultation that will allow us to develop a common reference, in a concerted way, that will enable companies to issue these new types of bonds, to support sustainable and inclusive growth in Tunisia, "said Mr. Salah Essayel, chairman of the Financial Market Council.

"Green, social and sustainable bonds can offer investors the opportunity, at the same time, to have a positive impact on the economy and the climate in Tunisia, as well as a return on investment", for its part said Mr. Georges Joseph Ghorra, Resident Representative of IFC in Tunisia. "We are committed, through our close collaboration with the Financial Market Council, to bring innovation and transparency to this new market," he continued.

IFC played a major role in the development of green and sustainable bonds in emerging markets. In particular, IFC supported the development of green bond guidelines in several MENA countries.

Since the launch of its Green Bond Program in 2010, IFC has been able to raise billions of dollars to finance projects to combat climate change, with a cumulative total of $ 9.2 billion raised across the world. bonds in 18 different currencies. It should also be noted that IFC launched its Social Bond Program in March 2017 and issued eight corporate bonds in public and private markets across four currencies for a cumulative total of $ 667 million.

This new initiative was made possible thanks to the support of the Government of Canada, as well as that of Eximbank Hungary.