Cairo – Mubasher: Egypt aims to issue green bonds for the first time in fiscal year 2019/2020 to finance eco-friendly projects and diminish pollution, the Ministry of Finance (MoF) said.

This will help the Egyptian government to commit to its responsibilities assigned at the United Nations Climate Change Conference held in Paris in 2015, the MoF revealed in a statement.

Egypt seeks to raise investments financed by the state’s public budget in FY18/19 to reach EGP 140 billion, the ministry added.

The MoF’s FY18/19 preliminary budget scheme had shown that the government seeks a gross domestic product (GDP) growth of 5.8%, as well as an unemployment rate cut of less than 11%.