It is an initiative that calls for others in Egypt. The independent power producer (IPP) Scatec is preparing to issue a green bond to finance renewable energy in Egypt. This is a loan issued on the market by a company to investors to enable it to finance its projects contributing to the ecological transition. Scatec’s initiative attracts one of the most active investors in the country, the European Bank for Reconstruction and Development (EBRD). The London (UK) based bank, which is heavily involved in financing the green economy in Egypt, is expected to subscribe to the loan, which has an overall value of $340 million.
The EBRD’s proposed financing of 130 million euros is expected to be approved on February 23, 2022. In this transaction, $100 million will be made available as a direct subscription to the bond, with $30 million representing a cash facility for the benefit of…
EGYPT: EBRD to underwrite Scatec’s green bond for solar energy
