Egypt Climate Bond May Get Vital Guarantee From Asian Bank
- Bond would help Egypt access capital and lower borrowing costs
- AIIB backs plan on climate ‘pause clause’ for emerging markets
Egypt is almost completely covered in desert and faces the specter of rising seas.
Photographer: Islam Safwat/BloombergThis article is for subscribers only.
The Asian Infrastructure Investment Bank, a multilateral development bank, is in talks to guarantee a climate-related bond being issued by Egypt, said AIIB President Jin Liqun.
“We’re working with one country on providing a guarantee for their bond issuance,” Jin said in an interview at the New Global Financing Pact summit in Paris. “That’s Egypt.”