Nairobi, April 19 -- Kenya will issue its debut $500 million (Sh64.5 billion) green sovereign bond before the close of the current financial year in June with the help of the World Bank.

The Central Bank of Kenya (CBK) says that the planned issuance of the green bond is still part of the external financing pipeline earmarked for execution before the close of the current financial year in June.

A Sovereign Green Bond refers to a government fundraiser that seeks to raise money for projects that promote environmental sustainability such as renewable energy, clean transportation and green housing.

"The Sustainability Linked bond is part and parcel of the Development Policy Operation (DPO) because the World Bank is helping us with it," CBK ...