Egypt is moving towards green economy projects to achieve sustainable development goals

The Media Center of the Council of Ministers published a report that included infographics highlighting the state’s trend towards green economy projects, in order to preserve the environment and the health of citizens. The report states that Egypt is the first country in the Middle East and North Africa region to issue government sovereign green bonds in global markets, at a value of $ 750 million for a period of 5 years, while the total value of purchase orders on the issuance of government sovereign green bonds amounted to more than $ 3.7 billion, which contributed in reducing the rate of return to 5.25% instead of 5.75%. The report stated that the launch of these green bonds aims to provide funding for environmentally friendly projects, as well as encourage clean investments in the region The report indicated that the green projects aim at enhancing the efficiency of resource use, as well as reducing carbon emissions, wastes and pollution, as well as preventing the loss of biodiversity. It must be noted that 14% of the total public investment for these projects has been directed to the 2020/2021 budget, as the cost of implementing 691 green projects in the FY 2020/2021 plan is about EGP 447.3 billion. The value of Egypt Portfolio of eligible green projects amounted to $ 1.9 billion until September 2020, of which 16% in the field of renewable energy, 19% in the field of clean transportation, 26% in the field of water and sanitation, and 39% in the field of...

2020-11-12 16:44:20

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