2023-10-24 10:00:24
The Daily News Egypt, citing official sources, reported that the Egyptian government plans to issue $700 million in green bonds in 2024. According to these sources, this operation should be carried out through one of the companies of State attached to the Ministry of Electricity.
The good news is that the proceeds from the issue will be used to finance an “environmentally friendly project”, which will be carried out in association with a private partner.
The International Finance Corporation (IFC), a subsidiary of the World Bank dedicated to the private sector, will act as advisor for this issue, which will be carried out through one of the state companies attached to the Ministry of Electricity and could also guarantee it.
Recall that in September 2020, Egypt carried out its first green bond issue amounting to $750 million, becoming the first country in the Middle East & North Africa (MENA) region to issue this type of bonds intended to finance projects in the areas of adaptation to climate change, clean energy, low-carbon transport, energy efficiency, sustainable waste management and sustainable management of water and soil.
Moctar FICOU / VivAfrik
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