Cairo – Mubasher: Egypt is currently mulling over the possibility of issuing green bonds locally in line with the planned international issuance expected to take place in the fourth quarter of the current fiscal year or the first quarter of 2019/2020, a source told Enterprise.

The green bonds sale is part of the Egyptian government’s new debt strategy aiming to diversify the treasury’s sources of financing, they added, noting that the government was in the process of reviewing investors’ requests to float local-currency bonds in the international markets.

In February, the Egyptian Ministry of Finance (MoF) announced the issuance of Eurobonds worth $4 billion with maturities of five years, 10 years, and 30 years.

Egypt seeks to cut borrowing cost through counting on Eurobond issuances instead of the country’s domestic high-yield debt.