Egypt's Finance Minister Mohamed Maait said that Egypt is considering issuing bonds linked to sustainable development.
The country is also aiming to expand its issuance of green bonds, he said, having sold $750 million in five-year green bonds in its first such sale in September.
Maait noted that there are plans to expand the issuance of green bonds to provide sustainable financing for environmentally friendly projects in the areas of housing, clean transportation, renewable energy, reducing pollution, adapting to climate change, raising energy efficiency, and the sustainable management of water and sanitation.
He added that the first offering of green bonds, worth $750 milion, has allowed Egypt to play a leading role in green development, and become a leader in the clean and environmentally friendly investment community in the region.
The minister said that the expansion of green projects will contribute to the country achieving comprehensive and sustainable development, whilst taking into account the environment.
It would help reduce pollution, improve air quality by reducing harmful carbon emissions, rationalize fuel consumption, and is consistent with efforts to maximize local components in the national industry, as well as raise growth rates, he added.
The minister said that the government aims to improve Egypt’s competitiveness in the environmental performance index and will target the implementation of 140 development projects in various sectors nationwide.
