The London-Based EBRD multilateral development bank announced on 13 January that it is backing a planned $340mn green bond from Norwegian renewables firm Scatec which “will be the first private green renewables-backed bond issued in Egypt.”

The EBRD says it plans to subscribe in the bond to the tune of $100mn as well as providing an additional $30mn of stand-by liquidity “for the benefit of the participating private institutional investors.” (CONTINUED - 184 WORDS)