Finance Minister, Ken Ofori-Atta, has confirmed government could issue up to $2 billion Eurobond by June this year.

 Mr Ofori-Atta has been giving details of this bond after he secured some commitment from investors in Asia during his non-deal roadshow.

“As you know we are going to issue anywhere from 1 to 2 billion dollars of sovereign paper and so I think we’ve found some people who are excited about that.

We also are a lot more positive about maybe issuing a green bond and we got some keen interest from that. So it was a good trip and then we look forward to further engagements. Certainly this first half of the year,” he told JoyBusiness in an interview.

This disclosure by the minister could also mean that government might be seeking more than what is proposed in the 2018 budget to finance the deficit.

Green bonds

Green bonds were created to fund projects that have positive environmental and/or climate benefits. The majority of the green bonds issued are green “use of proceeds” or asset-linked bonds. 

Proceeds from these bonds are earmarked for green projects but are backed by the issuer’s entire balance sheet.