Private sector to launch green bonds worth $200M: Planning Minister

Hala El Said, Minister of Planning and Economic Development, revealed that the Egyptian private sector is preparing to launch green bonds worth between $120-200 million, without disclosing more information on when the sales will occur or the companies participating.

The planning minister stressed that the private sector plays a decisive role in supporting the development of a comprehensive and resilient green economy.

This was during her meeting today with World Bank Group representatives to discuss the support of the Egyptian government in light of the new Country Partnership Framework 2023-2027.

The Country Partnership Framework 2023-2027 is aligned with the Government of Egypt’s sustainable development strategy, Egypt Vision 2030, and within the framework of the government program, Egypt Takes Off, the newly launched National Structural Reform Program, and the National Climate Change Strategy 2050.

El Said also highlighted the Environmental Sustainability Standards Guide that was launched with the Ministry of the Environment with the aim of greening Egypt’s budget and investment plan with goal to have 50% of green projects by the fiscal year 2024/2025.