Egypt's monorail project among green bonds’ funded developments

The developments include three wastewater treatment facilities as well as a desalination plant

  
Image used for illustrative purpose. A worker checks rails in the metro tunnel dug under the Nile river by special boring machines nicknamed "Nefertiti" and "Hatshepsut" after two ancient Egyptian queens. Picture taken June 16.

Image used for illustrative purpose. A worker checks rails in the metro tunnel dug under the Nile river by special boring machines nicknamed "Nefertiti" and "Hatshepsut" after two ancient Egyptian queens. Picture taken June 16.

REUTERS/Reuters Photographer

Egypt - The new capital-6th of October City monorail development is part of the first five projects that will be partially financed from the proceeds of Egypt’s sovereign green bonds, Al Mal News reported on October 20th.

The developments include three wastewater treatment facilities as well as a desalination plant, according to the news portal.

Egypt will pledge $500 of the $750 million bond issue for these green projects.

Minister of Environment Yasmine Fouad told Al Mal that coordination is being carried out with the Ministry of Finance to use $250 million worth of financing for developing additional projects.

Egypt has listed the sovereign green bonds on London Stock Exchange on October 15th.

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