RIYADH: The United Nations Economic Commission for Africa (ECA) announced the launch of a $30 billion “Liquidity and Sustainability Mechanism” to support the liquidity of African sovereign bonds, SPA reported.
This came during the 26th session of the COP26 conference.
The Addis Ababa-based Committee clarified that the Liquidity and Sustainability Mechanism will provide African governments with a liquidity structure of the same quality as international standards, in order to meet the continent's needs regarding the issuance of sovereign bonds at the level of the euro bond market.
The UN committee stated that this mechanism aims to suggest to international private investors wishing to invest in Africa, "a strong environment and diversified investment opportunities".
A first operation worth $200 million is expected to be announced in the first quarter of 2022, the committee said.
