A new framework is in the works for sustainable bonds: We’re working with the OECD to work out a framework for issuing green, blue, infrastructure, and other sustainable bonds on behalf of government entities, a government official told Enterprise. The new regulations that will allow government entities to sell bonds tied to sustainability projects should be out in time for a green bond issuance set to happen next year, our source told us.

More green bonds to come in 2024: The government is reportedly mulling over issuing green bonds worth USD 700 mn next year, Al Borsa reports, citing sources it says have knowledge of the matter. The issuance, which is still under study, will be carried out by an Electricity Ministry-affiliated body and the proceeds will be used to fund an unnamed green project, either by the private sector or through a public-private partnership (PPP), according to the local outlet.

Who’s involved? The International Finance Corporation will act as an advisor to the offering and may also subscribe to the issuance itself, Al Borsa reported. It was reported that the Organisation for Economic Co-operation and Development (OECD) will support the issuance, but the exact details of how the issuance will be guaranteed were not laid out.

This wouldn’t be our first green bond sale: We closed our second green bond issuance earlier this month with a CNY 3.5 bn (USD 478.7 mn) trove of Panda bonds. In 2020, our maiden green bond issuance brought in USD 750 mn and was almost 5x oversubscribed, attracting some USD 3.7 bn worth of orders for the bonds, pointing to growing appetites for climate-friendly securities worldwide.

I see your USD 700 mn, and raise you USD 5 bn: The Madbouly government is planning to bring in USD 3-5 bn from sovereign green issuances over the next five years, a government official told us.

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