The Arab Republic of Egypt has adopted a green bond framework for the issuance of sovereign green instruments, signaling its commitment to its environmental and sustainable development objectives. The Ministry of Finance is preparing for its debut sovereign green bond issuance, which will be the first in the Middle East and North Africa region. “The sovereign green bond programme will help us raise capital from investors who care for both environmental and financial returns,” said Mohamed Maait, Finance Minister. "Egypt’s green bond framework is aligned with the International Capital Markets Association Green Bond Principles (2018) and sets out the processes that will be used to ensure transparency and disclosure about the use of proceeds and environmental impact, in keeping with international best practice". Green bond proceeds will be used to support projects that reflect Egypt’s commitment to the United Nations Sustainable Development Goals (UN SDGs) and aligned with the three dimensions of sustainable development: economic, social and environmental in Egypt’s Sustainable Development Strategy Vision 2030.

Source: Egypt Today September 27, 2020 11:15 UTC