LSF closes inaugural $100 million repo transaction at COP27
The Liquidity and Sustainability Facility (LSF) designed by the United Nations Economic Commission for Africa (ECA), in collaboration with African Export-Import Bank (Afreximbank), announces at COP 27 it has concluded its inaugural repo transaction with Citi for an amount of USD 100 million. This innovative transaction, with funding support from Afreximbank, seeks to bring the benefits of a well-developed repo market to the African continent, with the goal of enhancing the liquidity of a diversified basket of Sovereign Eurobonds including The Arab Republic of Egypt, Kenya and Angola as issuers. The transaction relies on an innovative Triparty platform designed for the LSF by BNY Mellon. The LSF is now in the process of signing-in clients to the platform, including potentially two of the largest American and European fixed income private investors.
This first transaction marks the full operationalization of the LSF’s business model, enabling it to start fulfilling in earnest its two objectives of supporting the liquidity of African Sovereigns Eurobonds, and incentivizing SDG-related investments such as SDG and green bonds on the African continent.
Hygiene pad made from regenerated plastic bottles
Real Relief announced that Safepad, a unique and innovatively designed product that offers a safe and infection-free experience to women during menstrual periods, is now available in a version made from regenerated plastic bottles, reclaimed from the ocean, and collected from coastlines in South India.
We are facing an ocean plastic crisis. Every minute – every day, the equivalent of one garbage truck of plastic is dumped into the ocean. Unless immediate and sustained action is taken globally, there will be more plastic than fish in the ocean by 2050. As plastic remains in the ocean for hundreds of years and may take hundreds of years to degrade, the cumulative amount of plastic in the ocean by 2050 could reach 600 million tonnes — equivalent in weight to more than 3 million blue whales.
The good thing is that it is never too late to do something about it, and this is exactly why the Danish company, Real Relief now introduces a reusable pad made from plastic waste.
Comprehensive services to survivors of gender-based violence
The Government of Ethiopia and UNICEF, inaugurated a one-stop centre (OSC) that provides comprehensive medical, legal, and psychosocial services to victims of gender-based violence (GBV) in a safe environment.
The ceremony was attended by Ergogie Tesfaye, Minister of Women and Social Affairs, Gianfranco Rotigliano, UNICEF Representative in Ethiopia, and representatives from the Amhara regional state.
“Women and children have suffered from an increase in gender-based violence due to the conflict,” said Ergogie Tesfaye. “This has a life-long impact on their physical, sexual and psycho-social well-being. This one-stop centre that we are inaugurating today gives access to a holistic service to survivors to recover from such trauma and reduces the incidences of GBV in the future.”
The centre provides critical medical services including the clinical management of rape, abortion care, emergency contraceptive and treatment for diseases like HIV and sexually transmitted infections and hepatitis B. It also provides mental health and psychosocial services as well as legal aid to victims. In addition, it provides referral services including shelter and livelihood support in collaboration with partners.
Multi-billion alliance for green infrastructure
The African Union, the African Development Bank Group and Africa50 in partnership with several global partners have launched the Alliance for Green Infrastructure in Africa (AGIA), an initiative to help scale and accelerate financing for green infrastructure projects in Africa.
The collaborating global partners working with the African Union, African Development Bank and Africa50 are the African Union Development Agency, the European Investment Bank, the European Bank for Reconstruction and Development, the French Development Agency, The Rockefeller Foundation, the US Trade and Development Agency, the Global Center on Adaptation, the Private Infrastructure Development Group, and the African Sovereign Investors Forum.
The launch ceremony took place on Wednesday on the sidelines of the ongoing 27th annual global climate summit (COP27) in Sharm El-Sheikh, Egypt.
The Alliance’s mission is to raise significant capital to accelerate Africa’s just and equitable transition to Net Zero emissions. It has two strategic objectives. The first is to generate a robust pipeline of transformational bankable projects. The second is to catalyze financing at scale and speed for Africa’s infrastructure.
