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Dr. Mohamed Maait, Minister of Finance, said that green bonds were offered today, Tuesday, on the global markets for the first time, valued at $ 500 million at once, as the Egyptian government is targeting for a period of 5 years.
Maait told Al-Masry Al-Youm that he is following up with investors abroad the process of offering and taking out, but he did not mention the return rate.
Reuters also obtained a document that revealed that Egypt began marketing green bonds denominated in dollars for a period of five years at about 5.75% in the first issuance of this type of bond by a government in the Middle East and North Africa, and that its proceeds will be used to finance or repay Financing green projects in sectors such as transport, renewable energy and energy efficiency. Credit Agricole, Citi, HSBC and Deutsche Bank were tasked with arranging the deal.
- The situation in Egypt