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Egypt embarks on string of projects to be financed via green bonds

Egypt’s Ministry of Finance has listing Egyptian's first green bonds, intended to diversify government debt instruments and attract new investors.
This picture taken on April 29, 2018, shows the Heliopolis metro station under construction in the Egyptian capital Cairo. (Photo by KHALED DESOUKI / AFP)        (Photo credit should read KHALED DESOUKI/AFP via Getty Images)

CAIRO — Egypt’s Finance Ministry listed the first green sovereign bonds issued by Egypt on the London Stock Exchange, worth $750 million, on Oct. 15. 

The Sept. 30 issuance of green sovereign bonds was a first in the Middle East and North Africa. Egypt’s Finance Minister Mohamed Maait said the issuance of the five-year bonds had attracted investments from Europe (47%), the United States (41%), East Asia (6%) and the Middle East (6%).

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