The Egyptian government plans to issue green bonds worth $700m through one of its entities under the Ministry of Electricity. Egypt will also consider issuing sustainability bonds and social bonds at a later stage, after gaining experience in all types of issuances. Green bonds are fixed-income instruments that allocate their proceeds to finance or refinance eligible green projects in the green assets portfolio. Egypt has previously issued green bonds worth $750m to mobilise resources for green projects, especially in the field of clean transportation. This made Egypt the first country in the Middle East and North Africa region to issue green bonds in the fiscal year 2020-2021.
