Green bond market for “Global South”. Image source: Shutterstock (#206083060)
Cities in the “Global South” are urbanizing at three times the rate of cities in the “Global North”. However their access to capital to provide for the necessary infrastructure such as water or energy, is very limited. The local banking sector plays an important role but is often not suitable for such investment. While at the same time many cities in the “Global South” do not have access to the capital market, the recently evolving green bond market provides a financial alternative.
Environmental Finance
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