Banks operating in the Egyptian market have begun to feel their way towards financing environmentally friendly projects, or so-called green banking, to achieve a larger goal of sustainable development. During the forum held by the UAB recently on the green economy, El-Etreby spoke about the path to sustainable development. Moreover, the green bonds are called this name because their proceeds are used to finance green projects, such as clean energy projects or government transport projects that reduce emissions, he explained. The green economy came as a proposal to help achieve the objectives of sustainable development,” according to El-Etreby. She highlighted the FEB’s entry into the Sustainable Banking Network (SBN), which was approved by the FEB’s board on 13 November 2016.

Source: Daily News Egypt October 25, 2018 13:30 UTC