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Thursday, 28 June 2018

Green bonds coming to Egypt?

Green bonds coming to Egypt? The International Finance Corporation (IFC) and the Financial Regulatory Authority (FRA) have kicked off consultations on what guidelines for green bonds might look like, according to a statement from IFC (pdf) on Wednesday. What are green bonds you ask? Think regular bonds, but whose proceeds go towards funding green projects. “Our partnership with IFC helped us provide the necessary information to both issuers and investors, providing a comprehensive reference guide for the market to develop a new financial tool to support green growth in Egypt,” said FRA Chairman Mohammed Omran. “This is also in line with our strategy to develop new financial instruments within the Egyptian market over the next four years,” he added.

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