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The World Bank has issued over $12 billion worth of green bonds in Africa so far, said Mahmoud Mohieldin, Vice President for the 2030 Development Agenda, on Monday.
The bonds are designated to finance environmentally friendly projects in the continent.
Mohieldin, who is also an Egyptian prominent economic liberaliser, made his remarks at the 21st Annual Meeting of the African Securities Exchanges Association (ASEA), which takes place in Cairo between November 19-21.
Green bonds, a type of instrument used to raise funds to tackle environmental problems.
