Egypt’s govt projects to go 30% green by 2024

Web Desk BOL News

26th Oct, 2021. 11:13 am

RIYADH: Egypt aims at making 30 per cent of all the government projects green by 2024 and then raise the level to 100 per cent by 2030, Arab News quoted country’s Environment Minister Yasmine Fouad, as saying.

Speaking at the Middle East Green Initiative Summit in Riyadh, she said Egypt spent 447 billion Egyptian pounds on 691 green projects in different sectors during the current fiscal year.

Egypt also became the first country to issue green government bonds in September 2020.

“We issued $750 million in five-year green bonds in order to focus on the climate change projects in transport and sanitation sectors,” the minister said.

Fouad said the Egyptian government is taking measures to change the overall investment environment by not just only supporting the private sector but also focusing on the banking sector to encourage it to adopt sustainable financing principles.