FinMin approves a new framework for green bond funding

The Egyptian finance ministry has published its framework (pdf) for how it plans to use the proceeds of its first ever green bonds, how it selects and evaluates the projects that receive funding, and how this information is publicly disclosed.

In September Egypt closed the region’s first ever issuance of green bonds, selling $750 mn of the climate-linked securities to investors before listing them on the London Stock Exchange.

Working in cooperation with the World Bank, the framework is the product of multiple ministries coming together to establish the ground rules for how the country will use green bonds over the coming months and years.