October 9, 2021

Egypt launches $2bln sustainable term loan, Islamic financing facility

The ESG tranche will be used for green projects

Egypt’s finance ministry has launched its first $2 billion syndicated sustainable term loan and Islamic term financing facility with a three-year tenor following the success of its $750 million green bond sale last year.

The ESG (Environmental, Social and Governance) tranche of the facility will be used to fund green projects as per Egypt’s Green Financing Framework that was implemented in September 2020. The Islamic tranche would be utilized towards budgetary requirements, the finance ministry said in a statement on Thursday.

In September 2020, Egypt became the first in the Middle East and North Africa to sell green bonds when it issued $750 million in five-year bonds that listed on the London Stock Exchange.


Categories : islamic finance

Finance & Economy

HHD’s legal counsel sets final terms of partnership contract with Mountain View

2022-01-21 08:00:00

ArabFinance: The legal counsel of Heliopolis Housing and Development (HHD) (HELI) and the Holding Company for Construction and"...
Read More

MOPCO to set up new plant for melamine ...
January 21, 2022
Fawry’s board nods to capital incr...
January 21, 2022

Latest News

islamic finance

ADIB Egypt raises capital of its consume...
January 10, 2022
AD Ports Group and Aqaba Development Cor...
December 19, 2021
Faisal Islamic Bank Egypt reports 27.2% ...
October 19, 2021