The Egyptian Finance Minister Mohamed Maeet said on Wednesday that the ministry targets soft mechanisms that can help to cut the cost and burden of green finance for the African states.
During a session concerning cutting the cost of green borrowing within the “Finance Day” in the activities of the 2022 United Nations Climate Change Conference (COP27), the minister added that the mechanisms include providing liquidity and sustainability through establishing an active market to “repurchase government bills and bonds” in order to provide liquidity required to reach the development goals and enhance investment in environment-friendly projects.
This will enable the private sector to participate in bridging the gap of financing in Africa, the minister said, adding that this will also help investors to direct their investments into sustainable and environment-friendly returns.
