Arab Finance: The Egyptian government is considering issuing green bonds worth $700 million in 2024, Al Borsa News reported, citing sources familiar with the matter.

The under-study bonds are expected to be issued through a government body affiliated with the Ministry of Electricity, with the aim of launching a green project in favor of or in partnership with the private sector, the sources noted.

The International Finance Corporation (IFC) will serve as the underwriter on the bonds offering, which is likely to be carried out next year, they highlighted.

Also, the sources said that the issuance would be backed by the Organization for Economic Co-operation and Development (OECD).

This comes within the framework of the Egypt’s plan to increase government investments into green projects by 50% by 2025, they added.

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