The International Finance Corporation (IFC) will invest $100m in Egypt’s first private sector green bond issuance to help unlock finance for climate-smart projects, reduce greenhouse gas emissions, and support the country’s transition to a greener economy. “Egypt is taking strides towards the achievement of its 2030 development agenda, which is in line with the global sustainability goals. In 2020, the Government of Egypt launched its first sovereign green bond offering, which was five times oversubscribed. “The IFC and CIB partnership is proof of the global eagerness for more private-led green investments. The project will leverage funding from the UK-IFC Market Accelerator for Green Construction, which provides incentives to developers who construct certified green buildings.

Source: Daily News Egypt August 03, 2021 13:30 UTC