The International Finance corporation, IFC, is now set to issue a 10-year bond to raise 2 billion cedis to support local business. This was after the corporation secured approval from the capital market regulator, SEC, to go ahead and prepare the local prospectus for the bond issuance. In a responds to a questionnaire sent to the IFC by Joy Business, Vice President and Treasurer of IFC, Jingdong Hua said the move is part of their plan to reduce the dependency on foreign aid by Ghana and to develop the local capital market. Proceeds from the bond would will be used to support Ghanaian businesses. The corporation is targeting institutional investors, especially pension fund managers to participate in the ISSUE. It is also expecting to list the bond on the Ghana stock Exchange and trade publicly. The private sector arm of the World Bank is also set to launch a Naira-denominated bond in Nigeria.