In March 2019, Access Bank issued the first private sector Certiifed Climate Bond in Africa. 80% of the proceeds from this bond would be allocated to coastal flood defenses to protect against sea level rise in Eko Atlantic City, a new costal urban development near Lagos. The remainder of the proceeds are being allocated to solar energy generation facilities.
Access Bank was until recently one of the largest banks in Nigeria. Upon their merger with Diamond Bank on 1 April 2019, the resultant entity is the largest bank in Nigeria.
|Use of Proceeds||NGN 15 billion (USD 41.8m)||5 years||Nigeria||pre issuance verification report|