Tanzanian Bank NMB launches $400 million Green Bond Program

Tanzanian Bank NMB is introducing a 10-year multi-currency medium-term bond worth 1 trillion Tanzanian shillings ($400 million USD) as part of a green bond initiative. This is the first green bond of its kind in Tanzania and reflects the growing trend of African nations and businesses using green bonds to address climate change and invest in sustainable development. The bond will finance various environmental and social projects, such as renewable energy, energy efficiency, green transport, and wastewater treatment. NMB’s green bond issuance demonstrates their commitment to sustainability and aligns with their sustainability strategy. The bond offers an annual interest rate of 9.5% and will be available for purchase until October 27th. This development highlights Tanzania’s dedication to sustainable development and is supported by FSD Africa, an organisation promoting financial inclusion in Africa.

Resource: https://esgnews.com/tanzanian-bank-nmb-launches-400-million-green-bond-program/

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