Egypt gears up for first of its kind governmental green bond issuance

Egypt gears up for first of its kind governmental green bond issuance

Egypt is set to issue sovereign green bonds, which will be the first of their kind in the Middle East and North Africa (MENA), Minister of Finance Mohamed Maait announced on Sunday.

An informed source at the finance ministry told Ahram Online that the issuance is expected to be carried out before the end of 2020.

"The sovereign green bond programme will help us raise capital from investors who care for both environmental and financial returns. The issuance of international government green bonds in the global markets will enhance the environmental rating of Egypt in addition to increasing the confidence of foreign investors in the Egyptian economy and supporting its current and future growth levels,“ Maait stated.

In a statement, the minister said that to ensure the most