Egypt Targets Sukuk Issuance to Fund Government Projects: Ministry of Finance

The government of Egypt has announced plans for the issuance of Sukuk and additional Eurobonds and Green bonds for the financing of public projects as highlighted by the country’s Ministry of Finance on the 28th of February 2022.

Why it Matters?

Egypt is set to host the United Nations Climate Change Conference (COP27) in November 2022 and hopes to increase contribution to state-backed green investments by the government in the 2023 budget as part of a programme parallel to the event. The country has plans for doubling its contribution to government-backed green investment from 15% in the financial year ending on the 30th of June 2022 to 30% of all public investment in the financial year 2023, as stated by the finance ministry.

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