Egypt turns green but few MENA sovs to follow

Middle East Fotolia 230x150
By Mariam Meskin
27 Feb 2020

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.

CitiCrédit AgricoleDeutsche Bank and HSBC will be the bookrunners. The schedule for the bond is unclear, though some said it could be completed within the first half of the year.

The success of Egypt’s most recent bond issue suggested that investors will lap up any ...

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