Egypt's private sector to sell $120-200m in green bonds-planning minister

Hala Helmy El Sayed, Egypt’s minister of planning, monitoring and administrative reform [Wikipedia]

The Egyptian private sector plans to sell $120 million to $200 million in green bonds to fund eco-friendly projects, Planning Minister Hala al-Saeed said on her ministry’s Facebook page, Reuters reports.

She did not specify a timescale for these issues, which will come on top of $750 million in green bonds the government has already sold to fund mainly clean transport projects.

The government is looking actively to fund a series of megaprojects announced over the last few years, including a $60 billion new administrative capital city, a $23 billion highspeed rail network and a $25 billion nuclear power station.

READ: Central Bank of Egypt raises policy rates by 200 basis points

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