CAIRO: Egypt on Tuesday issued its first-ever green sovereign bonds, the first in the Middle East and North Africa (MENA), as part of its efforts to implement renewable energy projects to combat pollution.
Green bonds are debt instruments to obtain financing for projects related to the climate or environment, according to a statement by Egypt’s Finance Ministry.
The state used Credit Agricole, CIB and HSBC Holding banks as structural advisors. Citigroup, Credit Agricole, Deutsche and HSBC banks were hired as joint managers for the offering.
Finance Minister Mohamed Maait said offering the green sovereign bonds in global markets will raise foreign investors’ confidence in Egypt’s economy, support its current and future growth, attract investors interested in environmental and financial returns, and improve the country’s environmental rating.
Egypt has a portfolio of eligible green projects worth $1.9 billion, 16 percent of which are in renewable energy, 19 percent for clean transportation, 26 percent for sustainable water and wastewater management, and 39 percent for pollution reduction and control.
Maait said Vigeo Eiris, an entity affiliated with American financial services company Moody’s, conducted the independent review and evaluation, in line with Egypt’s strategic sustainability priorities.
“We obtained a strong second party’s opinion on the quality of eligible environment-friendly projects,” he added.
Maait said the proceeds from the green bonds will be used to finance projects that reflect Egypt’s commitment to the UN’s Sustainable Development Goals.
Marina Weiss, regional director of the World Bank in Egypt, said the bank is ready to share knowledge and experience with the government, and to provide technical assistance for post-issuance allocation and preparation of the necessary annual reports.
Varnam Pedgoli, head of sustainable bonds at HSBC, and Antoine Rose, head of sustainable banking at Credit Agricole, said Egypt’s framework for green bonds is in line with the principles of green bonds of the International Capital Markets Association, as it includes the procedures followed to ensure transparency while maintaining international best practices.
Economist Abdul-Rahman Taha said the green economy is a global trend that will have a positive impact on Egypt’s budget and increase the volume of foreign investment.
He added that he expects green bonds to become widely popular in Egypt.
Egypt issues first green bonds in MENA
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Egypt issues first green bonds in MENA
- Egypt has a portfolio of eligible green projects worth $1.9 billion
Saudi industry minister meets foreign officials ahead of Future Minerals Forum 2026
RIYADH: Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef held a series of bilateral meetings at the department’s headquarters with ministers from several countries participating in the Future Minerals Forum 2026.
The meetings were also attended by the Deputy Minister for Mining Affairs Khalid Al-Mudaifer.
During his meeting with the Brazilian Minister of Mining and Energy Alexandre Silveira, Alkhorayef discussed ways to enhance cooperation between the two countries in the mining and minerals sector as well as highlighted the most prominent opportunities available for developing joint mining investments.
In a meeting with Pakistan’s Minister of Petroleum Ali Pervaiz Malik, he discussed expanding the horizons of strategic partnership in the mining sector between the Kingdom and Pakistan, particularly in the field of mineral industries related to enhancing food security.
The minister also met with Nigeria’s Minister of Solid Minerals Development Dele Alake as they discussed joint opportunities to develop cooperation and exchange technical expertise in the mining and manufacturing sectors, emphasizing the African country’s pivotal economic role in West Africa.
Alkhorayef also held talks with the Minister of Mines of the Democratic Republic of the Congo Louis Watum Kabamba to explore joint investment opportunities in the mining sector and ways to enable the private sector to capitalize on these opportunities, thereby strengthening supply chains for strategic minerals.
In a related development, the Saudi minister held a bilateral meeting with the World Health Organization Regional Director for the Eastern Mediterranean Hanan Balkhi during which they tackled cooperation between the Kingdom and the WHO in the manufacturing and supply chains of medicines and vaccines.
They also discussed ways to enhance global health security and solidifying the Kingdom’s position as a strategic partner of the WHO as well as a promising regional hub for the pharmaceutical industry.
Alkhorayef’s meetings with ministers preceded the fifth edition of the Future Minerals Forum, held from Jan. 13 to 15, in Riyadh.
The conference serves as a leading international platform for dialogue on the future of the global mining sector and for building effective partnerships between governments and the private sector, contributing to the growth and sustainability of the mining sector. It also reinforces Saudi Arabia’s position as a global hub for mining and minerals.
