Egypt Studying Sustainable Development Bonds

The Central Bank of Egypt (CBE). Reuters
The Central Bank of Egypt (CBE). Reuters
TT

Egypt Studying Sustainable Development Bonds

The Central Bank of Egypt (CBE). Reuters
The Central Bank of Egypt (CBE). Reuters

Egypt's Finance Minister Mohamed Maait said that Egypt is considering issuing bonds linked to sustainable development.

The country is also aiming to expand its issuance of green bonds, he said, having sold $750 million in five-year green bonds in its first such sale in September.

Maait noted that there are plans to expand the issuance of green bonds to provide sustainable financing for environmentally friendly projects in the areas of housing, clean transportation, renewable energy, reducing pollution, adapting to climate change, raising energy efficiency, and the sustainable management of water and sanitation.

He added that the first offering of green bonds, worth $750 milion, has allowed Egypt to play a leading role in green development, and become a leader in the clean and environmentally friendly investment community in the region.

The minister said that the expansion of green projects will contribute to the country achieving comprehensive and sustainable development, whilst taking into account the environment.

It would help reduce pollution, improve air quality by reducing harmful carbon emissions, rationalize fuel consumption, and is consistent with efforts to maximize local components in the national industry, as well as raise growth rates, he added.

The minister said that the government aims to improve Egypt’s competitiveness in the environmental performance index and will target the implementation of 140 development projects in various sectors nationwide.



Saudi-Japanese Business Council Discusses Investment Opportunities

Saudi and Japanese official attend a meeting of the Saudi-Japanese business council in Riyadh on Sunday. (SPA)
Saudi and Japanese official attend a meeting of the Saudi-Japanese business council in Riyadh on Sunday. (SPA)
TT

Saudi-Japanese Business Council Discusses Investment Opportunities

Saudi and Japanese official attend a meeting of the Saudi-Japanese business council in Riyadh on Sunday. (SPA)
Saudi and Japanese official attend a meeting of the Saudi-Japanese business council in Riyadh on Sunday. (SPA)

The Saudi-Japanese business council convened in Riyadh on Sunday to explore avenues for strengthening the strategic partnership between the two nations across diverse economic sectors.

The meeting was headed by Saudi Minister of Investment Khalid Al-Falih and Japan's Minister of Economy, Trade and Industry Muto Yoji. It brought together several ministers, CEOs of major Saudi and Japanese companies, and representatives from both countries' public and private sectors.

Officials reviewed the significant achievements made since the seventh ministerial meeting within the Saudi-Japanese Vision 2030.

It explored numerous areas of growing cooperation and identified promising investment opportunities in vital sectors such as clean energy, financial services, critical minerals, special economic zones, health and biotechnology, water, e-sports, advanced and electronic industries, and more.

The meeting witnessed the signing of 13 memoranda of understanding, demonstrating the growing momentum in bilateral cooperation. The agreements, covering healthcare, infrastructure, and logistics sectors, were signed between government and private sector entities and amongst private sector companies from both countries.