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

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.