Namibia Delays Green Bond Issuance Due to EU Initiative Setbacks

Namibia has delayed its plans to issue green bonds aimed at funding renewable energy and hydrogen projects. The delay stems from setbacks with the European Union’s Global Green Bond Initiative (GGBI), designed to support developing markets in issuing green bonds.

The European Union launched the GGBI last year as part of its strategy to finance the energy transition. Namibia had prepared for participation in the initiative, but has yet to finalize its timeline for issuing sovereign green bonds. According to Finance Minister Iipumbu Shiimi, the delay in the financial closure of the EU’s GGBI has hindered the country’s ability to proceed with the issuance.