Egypt to become first Arab country to issue Green bonds

Egypt to become first Arab country to issue Green bonds

DUBAI/LONDON - Egypt started marketing a five-year U.S. dollar-denominated Green bond on Tuesday at a yield of around 5.75%, a document showed, in what would be the first sale of green bonds by a government in the Middle East and North Africa region.The deal is expected to raise at least $500 million for Egypt and is expected to price later on Tuesday, a source familiar with the transaction said."It's not a huge size, but they are planting the flag of their commitment to sustainability," the source said.He said the aim was to diversify Egypt's investor base as well as making people aware of the country's progress on the sustainability front."The investor presentation was attended by many who are speaking to Egypt for the first time, we were fielding calls for