The United Nations on Wednesday launched a new finance mechanism aimed at saving African governments $11 billion in borrowing costs in the next five years, while fostering greener investments and sustainable development.
The United Nations on Wednesday launched a new finance mechanism aimed at saving African governments $11 billion in borrowing costs in the next five years, while fostering greener investments and sustainable development. The U.N. Economic Commission for Africa (UNECA) launched the Liquidity and Sustainability Facility (LSF) at COP26, the global climate conference underway in Glasgow, Scotland. International investors with portfolios containing African government bonds will be able to approach the LSF for short-term loans, known as repos, using the bonds as collateral, enhancing investors' ability to turn those bonds into cash at short notice, known as liquidity.
The United Nations on Wednesday launched a new finance mechanism aimed at saving African governments $11 billion in borrowing costs in the next five years, while fostering greener investments and sustainable development. The U.N. Economic Commission for Africa (UNECA) launched the Liquidity and Sustainability Facility (LSF) at COP26, the global climate conference underway in Glasgow, Scotland. International investors with portfolios containing African government bonds will be able to approach the LSF for short-term loans, known as repos, using the bonds as collateral, enhancing investors' ability to turn those bonds into cash at short notice, known as liquidity.