February 03, (THEWILL) – Cross River State governor, Senator Bassey Otu, has announced plans to float a green bond in Luxembourg in a “few weeks”.
The governor disclosed this in his office when he played host to Her Excellency, Ms Samuela Isopi, Ambassador of the EU Delegation to Nigeria and ECOWAS.
A green bond is a fixed income financial instrument, which is used to fund projects that benefits the environment, as well as climate.
The governor, in a release made available by his Chief Press Secretary, Emmanuel Ogbeche, said his administration is building a sustainable sub national in view of its strategic position in the Gulf of Guinea.
Ogbeche quoted the governor as saying that “to demonstrate our seriousness here, we will be floating a Green Bond in Luxembourg in a few weeks’ time.
“We share a common vision in supporting and preserving the rich biodiversity that our state is known for, as well as committed to climate change initiatives.
“I urge you to take the message back that Cross River State is building a sustainable sub-national, giving our strategic location around the Gulf of Guinea”, the governor said.
The governor also disclosed that the security situation in the state “is progressively improving and your businesses and investors will find a lot of potential in agric, mining, biodiversity and education.
“While I commend your being here, let me assure you that the state is ready for partnership and investment such as that the EU is bringing”, he said.
He also described the visit as historic given that it is the first time in over a decade an EU delegation will be visiting the state.
He equally commended the European Union for the collaboration and support, especially in the areas of biodiversity and climate sustainability.
According to Governor Otu, the state and the EU have a shared vision in terms of green economy, stressing that the state offers a conducive environment for sustainable economic investment.
Earlier, the EU Ambassador to Nigeria and the ECOWAS, Ms Samuela Isopi, noted that the visit is unique, being the first in over 10 years.
She announced that the EU will be expending a cumulative sum of €5 Million Euros on conservation activities in the state.
She said, “The delegation is in Cross River State as part of activities supporting wildlife conservation in the state and commissioning of new infrastructures and interventions valued at €1.5m.
“The EU is proud to partner in the conservation of wildlife in Cross River State and is willing to commit an additional €3.5m to prevent illegal logging, poaching and support communities even outside gaming reserves”, she said.
Ms. Isopi added that the initiative is geared towards sensitising local communities on the protection of wildlife, promote climate sustainability and biodiversity.
About the Author
THEWILL Correspondent, Aniekan Bassey has over six years experience that spans across several fields in print journalism including development communication, sexual reproductive and health rights issues, crime, climate change, social justice, business and human interest stories.
