Egypt signs facilities worth $2 bln to finance green projects

Egypt signed facilities worth two billion dollars to meet financial needs for various environmentally friendly projects.

The financing facilities were signed on for a term that complies with the principles of environmental, social and corporate governance (ESG) and other facilities that comply with Islamic Sharia, the Ministry of Finance said in a statement.

A tranche of the ESG financing will be used to finance green projects while a tranche of Islamic finance will finance the general budget, according to the statement.