Private Sector to Sell Up to USD 200 Million in Green Bonds

According to the Ministry of Planning and Economic Development, Egypt’s private sector is geared up to sell green bonds worth anywhere between USD 120 million to USD 200 million to help fund eco-friendly projects.

Although no further details have been released, it would not be the first time the private sector has issued green bonds; Commercial International Bank (CIB), the biggest private lender in Egypt, sold the first green bond from the private sector to the public sphere in June 2021, giving out green bonds worth USD 100 million.

This comes in adjacent to the USD 750 million that the government has already sold to fund clean transport projects, such as the monorail and other public transportation systems in the New Administrative Capital.