Egypt sees first offering of green bonds worth $100 mln on Wednesday

MoneyFeaturedFinancial Institutions
By Islam Salah & Gehad Abdelghany
Egypt
Mohamed Omran, chairman of the Egyptian Financial Supervisory Authority (EFSA) speaks at the Egyptian Third Annual Leasing Conference in Cairo on October 16, 2018.

Egypt expects to offer its first green bonds by a private company on Wednesday, said head of Egypt’s Financial Regulation Authority (FRA) on Tuesday.

The offering of the green bonds will take place with value of $100 million, FRA chairman Mohamed Omran announced at a press conference.

Omran did not name the company due to offer green bonds.

Green bonds – first launched by the World Bank in 2008 – are fixed income securities that raise capital for projects with environmental benefits, such as renewable energy, energy efficiency, green transport, and waste-water treatment.

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