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Egypt plans sukuk to finance government investment projects

Egypt plans sukuk to finance government investment projects

EGYPT'S government plans to issue sharia-compliant sukuk bonds, as well as more Eurobonds and Green bonds, to fund public projects, the finance ministry said on Monday. The country aims to increase the government's contribution to state-backed green investments in next year's budget as part of a programme coinciding with its hosting of the COP27 United Nations Climate Change Conference in November, the ministry added. Egypt's government became the first in the Middle East and North Africa to issue Green bonds when it issued five-year Green bonds in September 2020 with a $750 million deal to finance environmentally-friendly projects in the…
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