Egypt turns green but few MENA sovs to follow

The Arab Republic of Egypt is set to become the first Middle East or North African sovereign to sell a green bond. But there are no “obvious suspects” for a follow-on deal, according to those in the market. While green bond issuance is taking root among the region's other borrower classes, the format has yet to grasp the attention of governments for whom, some say, the challenge of being greener is proving too great, writes Mariam Meskin.