Coastal governors set up committee to deliver Kenya’s first 'Blue-Green Bond'

Jumuiya ya Kaunti za Pwani (JKP) governors during the signing of joint declaration launching the Kenya Blue-Green Bond Programme at the 11th Our Ocean Conference in Mombasa. (Photo: Courtesy)

By Farhiya Hussein
Thursday, June 18, 2026

Under the framework, the newly established technical committee will oversee the bond’s design, governance and implementation process ahead of its planned issuance.

Governors from the coastal regional bloc, Jumuiya ya Kaunti za Pwani (JKP), have formed a joint technical committee to spearhead the development of Kenya’s first Blue-Green Bond, expected to be issued within the next year.

The announcement was made during the 11th Our Ocean Conference in Mombasa, where the governors also signed a joint declaration launching the Kenya Blue-Green Bond Programme.

The initiative seeks to attract long-term financing for fisheries, aquaculture, maritime infrastructure, coastal tourism, marine conservation and climate resilience projects, as coastal counties look for alternative sources of funding to harness the region’s blue economy potential and create employment opportunities.

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Under the framework, the newly established technical committee will oversee the bond’s design, governance and implementation process ahead of its planned issuance.

The bond is expected to finance projects aimed at strengthening coastal resilience to climate change, supporting sustainable marine industries and improving livelihoods in coastal communities.

The launch comes amid growing efforts by Kenya to expand investment in the blue economy, a sector viewed as a key driver of economic growth through activities such as fishing, aquaculture, maritime transport and coastal tourism.

Kilifi Governor Gideon Mung’aro described the programme as a financing mechanism that could help unlock investment opportunities across the coastal region while promoting environmental sustainability and inclusive economic growth.

If successfully implemented, the initiative could position Kenya among a growing number of countries using thematic bonds to raise capital for environmental and climate-related projects, while advancing efforts to develop the blue economy as a major contributor to national and regional development.