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Egypt plans to issue blue, green, social bonds in local currency of NDB members
Finance Minister Mohamed Maait said Egypt is planning to issue blue, green, sustainable and social bonds in local currencies of the member states of the New Development Bank (NDB).
Maait, who also serves as Egypt’s Governor at the New Development Bank (NDB), made the remarks during a meeting with NDB Vice President Vladimir Kazbekov.
This falls within the framework of the ambitious Egypt Vision 2030 and ongoing efforts to add new categories of socially-targeted projects under Egypt’s sustainable portfolio, he said.
Maait asserted that Egypt seeks to establish a strong and sustainable strategic partnership with NDB to lure more investments into the development sector and promote state efforts aiming at realizing more inclusive and sustainable development that affects people’s lives and improves their living conditions in addition to offering better public services.
The minister highlighted the promising cooperation vistas with the bank, especially in the fields of clean energy, transport, social and environmental protection, IT infrastructure, water and sanitation.
Maait added that Egypt is looking forward to enhancing economic development cooperation under the bank’s plans to expand its activities in Egypt in the coming period.He highlighted that holding talks would help explore promising investment opportunities, noting that securing soft development financing to the private sector is the locomotive of economic recovery and sustainable growth, especially in light of adopting business incentivizing measures.
He underscored Egypt’s interest in furthering cooperation with various international multilateral institutions to attain sustainable development goals amid geopolitical tensions and the ensuing unprecedented challenges.
Established in 2015 by BRICS countries, the New Development Bank is a multilateral development bank aimed at mobilizing resources for infrastructure and sustainable development projects in BRICS and other EMDCs.
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