Egypt launches its first of kind green bonds in London Bourse, worth $750 mln

SectorFinancial Markets

Egypt launched Thursday, virtually, its first governmental sovereign green bonds offer in the London Stock Exchange (LSE) with a total worth of $750 million in a five-years term, the first of its kind in the Middle East and North Africa (MENA). The move represents a historic moment in UK-Egypt relations, and UK-regional relations, UK Minister of State for Middle East and North Africa James Cleverly said, adding that more ambitious action is needed for the sake of protecting the environment, and attaining green and flexible recovery from the ongoing Covid-19 crisis. LSE interim CEO Denzil Jenkins said that the launch reflects Egypt’s commitment to building a sustainable future and paves the way for bond issuers in the region to follow in Egypt’s footsteps. For his part, Egypt’s Minister more...