The African Development Bank (AfDB) is partnering with Nigeria's financial market regulator to promote green bonds. The Securities and Exchange Commission (SEC) wants to boost sustainable finance instruments in its market.

The AfDB will provide the SEC with assistance and a grant from the Capital Markets Development Trust Fund, a multi-donor fund it administers. The two partners have just signed an agreement to strengthen the green bond market.
"Experience has shown that countries with developed domestic capital markets experience better economic growth and structural transformations. That is why the AfDB supports the emergence of resilient financial and capital markets," said Lamin Barrow, Senior Director of the AfDB Country Department for Nigeria.
The funds made available by the AfDB will strengthen the ESA's capacity in terms of risk-based supervision of the financial and securities markets, consolidate the preparations required for financial product publications and the green bond market.