The IFC will invest USD 100 mn in Egypt’s first corporate green bond offering by CIB, the institution announced in a statement. The bond will help CIB finance businesses looking to invest in green buildings, renewable energy, and other eco-friendly solutions, with the IFC financing its investment through the UK-IFC Market Accelerator for Green Construction. The IFC will also provide advisory support to CIB, including technical assistance. CIB’s green bond is the first such offering by a corporation in Egypt.

International hotelier Rotana has signed agreements with two local real estate firms to manage residential developments, it recently announced in a statement. The Emirati firm will manage Al Marasem Development’s New Cairo Lake Residence apartments, and Marina Way Lagoon’s Marina Bay holiday rentals in Alamein on the North Coast.

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