Egypt studying first blue bond issue – minister

Egypt is studying the possibility of issuing its first blue bond, Finance Minister Mohamed Maait told Bloomberg Asharq on Monday.

Maait said the country is considering the issuance of blue and sustainability bonds, without disclosing any further details about the size and timing of the issuance.

Blue bonds are an innovative ocean financing instrument whereby funds raised are earmarked exclusively for projects deemed ocean-friendly, for example by preserving coral or limiting pollution.

The Asian Infrastructure Investment Bank (AIIB) will act as a guarantor for Egypt’s anticipated panda bonds worth more than $500 million in the Chinese market, the minister stated.