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Cameroonian Born Vera Songwe Appointed Chairwoman ,The Board Of Directors Of Liquidity & Sustainability Facility

Dr Vera Songwe
Dr Vera Songwe

Few weeks after her resignation from the UN Economic Commission for Africa, the specialist in economic affairs has just been brought to the head of the board of directors of the Liquidity & Sustainability Facility (LSF).

 

“The LSF marks the recognition of the maturity of the African sovereign bond market. It aims to provide the same financial infrastructure that the rest of the world has access to and level the playing field for African sovereign borrowers. This creates a more sustainable investment environment for Africa,” said Dr. Vera Songwe after her appointed the head of the board of directors of the Liquidity & Sustainability Facility (LSF).

 

The Board of Directors also includes Dr. Benedict Okey Oramah, President and Chairman of the Board of Directors of the African Export-Import Bank, and David Escoffier, who is also the Managing Director of the LSF Secretariat.

 

These appointments evolve around LSF‘s commitment to operating under high governance standards and the oversight of a high-quality Board of Directors.

 

The LSF was created in November 2021 at the COP26 in Glasgow in Scotland aiming at supporting the liquidity of African Sovereign Euro-bonds and incentivizing SDG-related investments such as SDGs and Green Bonds on the African continent. Its objective is to improve the sustainability of African sovereign debt and, through its participation with African governments and private investors, to contribute to the improvement of liquidity in the market by international standards.



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