Arab Finance: Egypt is planning to issue green bonds and sukuk worth up to EGP 10 billion before the end of the fiscal year (FY) 2024/2025, as part of its ongoing strategy to diversify funding sources, Asharq Business reported, citing Minister of Finance Ahmed Kouchouk.

The Egyptian Ministry of Finance aims to offer these bonds and sukuk in the local market during the third or the final quarter of the current FY, Kouchouk added.

In September 2020, Egypt became the first country in the region to issue sovereign green bonds, raising $750 million. The offering was oversubscribed by nearly five times.

Following this, Egypt sold its first sovereign sukuk in February 2023, worth $1.5 billion, with a three-year maturity.

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