Finance Minister Mohamed Maait has confirmed that the country’s eligible green projects amount to USD 1.9 bn (EGP 29.91 bn), which reflects the state’s efforts to achieve the goals of its sustainable development strategy, or Egypt Vision 2030.

The minister explained that almost 16% of these developments are for renewable energy, while another 19%, 26%, and 39% are for clean transportation, sustainable water and wastewater management, and pollution prevention, according to an official statement on September 27.

The announcement is in line with the government’s preparations to issue the first sovereign green bonds across the Middle East and North Africa. Maait previously stated that the size of the issue “will not be large,” but might reach roughly USD 500 mn (EGP 7.87 bn).