“Egypt launches its 1st green bond offering on London Stock Exchange” – Egypt Today – October 15, 2020

On October 15, 2020 Egypt Today reported that Egypt launched “in a virtual event, its first green bond offering on the London Stock Exchange (LSE).

The Egyptian government sovereign green bond offering is valued at $750 million with a five year term. This offering is the largest in the Middle East and North Africa region, and the first of its kind on the London Stock Exchange.”

Egyptian Finance Minister Mohamed Maait “announced Egypt’s pleasure to join the group of sovereign green bond issuers that play a leading role in green development, and how the government value the great turnout of investors for this successful issuance, which demonstrates its support and confidence in the government’s efforts to diversify the financing needed to achieve the goals of sustainable development.

He added that the proceeds of the ‘green bond’ will be used to finance expenditures related to environmentally friendly green projects, and to achieve Egypt’s sustainable development plan in the areas of clean transportation, renewable energy, reducing and controlling pollution, adapting to climate change, raising energy efficiency, and sustainable management of water and sanitation, in light of “Egypt Vision 2030”, which gives priority to green investment projects.”

You may read the article on the Egypt Today internet site.