Egyptian Cabinet Approves Inclusion of Sustainable Bonds in Green Finance Framework


The Egyptian cabinet has approved a request from the Ministry of Finance to expand its green finance framework to include sustainability bonds, according to an official statement on May 11.

This step will allow the government to initiate the necessary executive regulations to issue sustainability bonds, the cabinet said at its weekly meeting held yesterday.

This decision is part of the Ministry of Finance’s efforts to diversify debt instruments and reduce debt service costs in the context of the current global economic situation and the impacts of the Russian-Ukrainian war.

It should be noted that the Council of Ministers also approved the draft law amending certain provisions of Law No. 141 of 2014 regulating the financing of micro, small and medium-sized enterprises (MSMEs) and the Law on consumer financing enacted under Law No. 18 of 2020.

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