Africa-Press – Cape verde. The president of the Cape Verde Stock Exchange (BVC) challenged the Government and other entities to start thinking about green bonds, as well as blue bonds, whose subscriptions started this Monday, January 24.
Miguel Monteiro made the proposal this Monday, 23rd, in Mindelo, during a “special presentation” of the blue obligations (Blue-X), included in the reception program of the Ocean Race regatta.
“Why don’t we have the first sovereign edition of a `Green Bonds ́ [Green Bonds] linked to the environment to, effectively, have this type of instrument on the Cape Verde Stock Exchange”, questioned the person in charge, for whom this challenge can be completed and allow the Government to “give a signal” to international partners.
In this sense, Miguel Monteiro underlined that a “symbolic issue” of, for example, “two million dollars” would be “welcome”, which could show the contribution of the executive in sustainable instruments.
Break with the status quo
As for the Blu-X Bonds (Blue Bonds), the president of the Stock Exchange highlighted the fact that it was the first issue since 2013, which demonstrates, in his view, the intention of the current team to “break with the `status quo ́”.
And in this regard, the same source welcomed the Government’s decision to exempt emigrants who invest in the Stock Exchange from taxes, something that, he asserted, will encourage the Cape Verdean diaspora to “invest in their country and in the future of their land” .
“Great time for Cape Verde”
The representative of the United Nations Development Program (UNDP), BVC’s partner in the initiative, considered the launch of this first blue bond to be a “great moment” for Cape Verde.
“We came out of a series of crises that show that the economic system based only on tourism is not enough to have an economy that brings Cape Verde to the future, we are diversifying through this type of financing”, underlined Christopher Lilyblad, with the idea of being “very important” an issue, which is a “kind of private financing”.
For his part, the chairman of the executive committee of the International Investment Bank (iibCV), the issuer of Blu-X, Francisco José Ferreira, stated the intention of this bank to be the bank under Cape Verdean law and of an international nature that “best knows ” the archipelago.
“Making a difference and doing things differently and seeking to innovate, expanding the horizons that the market allows us at every moment”, guaranteed the same source, explaining that this issue was born in 2020 “from the imagination and intention” of the employees themselves from a social program.
About Blue Bonds
The issue of Blue Bonds aims to enable the development of structural projects in the area of the blue economy and intends to issue a quantity of 25 thousand bonds with the price of 10 thousand escudos each, with the possibility of increasing an additional amount of 100 million escudos by the issuer .
The term expires in five years and interested parties can subscribe from this Monday, the 23rd, until the 28th of February. The physical and financial settlement date is March 1st.
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