TUESDAY, 28 JUN 2022

 

CONNECT

Facebook Linked In Twitter
IMH LTD

Cyprus President To Attend Dinner For EU And NATO Leaders In Madrid

Russian Economy 'Degrading Slowly' Due To Sanctions, Claims VDL

IMH LTD

ECONOMY

Cyprus Planning First Green Bond

Cyprus Planning First Green Bond

Cyprus could issue its first green or sustainability bond as soon as next year and would aim to raise at least 500 million euros, an official at its debt management agency told Reuters.

Proposals for such a deal have been discussed but still need government approval, according to the official, who asked not to be identified.

"This is something that we are considering, but this is something that takes significant time to do," the official said, adding that the debt management office would need to create the infrastructure to issue and track a green bond.

"It will happen but we would have to be cautious on the timing of it."

Green bonds are a fast growing market, which borrowers tap to fund environmentally-beneficial projects.

The official said Cyprus would look for an issue size of at least 500 million euros and could also opt for a sustainability bond, proceeds of which can be spent on both green and social projects, instead of a green bond

"(An) issue particular to small countries is that it's difficult to find enough projects to have a benchmark issuance from green alone, so we are looking into other possibilities."

Luxembourg was the first European government to issue a sustainability bond in 2020 and Andorra and Slovenia followed last year.

European governments have shown strong interest in the green bond market as demand for environmental, social and green assets has surged. Germany, Britain, Italy, Spain and the European Union issued their debut green bonds over the last two years.

Interest remains high, with Denmark issuing its first green bond this month and Greece and Austria among countries expected to follow suit.

 

Source: Reuters

MORE ON ECONOMY

Anastasiades: Cyprus Can Become A Regional Educational, Research And Excellence Centre

Cyprus can become a regional educational, research and excellence centre, said President ...

Cyprus Sales Of Petroleum Products Up 34 Percent In May, While Oil Reserves Drop 17.1 Percent

Total sales of petroleum products increased by 34% on an annual basis in May 2022, while ...

Petrides Discusses Russian Sanctions With US Secretary Of The Treasury Yellen

The US and Cyprus’ commitment to implement sanctions on Russia for its war in Ukraine was ...

FROM AROUND GOLDNEWS

   

Mandatory Face Masks Return To Pharmacies, Labs And COVID Testing Units

As COVID cases hike in Cyprus, the Cabinet decided on Tuesday to make face masks mandatory again in pharmacies, clinical labs and testing units.
   

Panayides: Cyprus Backs EU Support To Green Tech In Mediterranean

Cyprus agrees with the creation of a common platform for the supply of natural gas, as well as the EU providing financial support for innovative green ...
   

Cyprus Economic Sentiment Deteriorates In June

The economic sentiment in Cyprus deteriorated in July, pushed downwards by weaker business confidence in services, industry and retail trade.
   

Anastasiades: Cyprus Can Become A Regional Educational, Research And Excellence Centre

Cyprus can become a regional educational, research and excellence centre, said President of the Republic Nicos Anastasiades, addressing the graduation ceremony ...
   

Cyprus Sales Of Petroleum Products Up 34 Percent In May, While Oil Reserves Drop 17.1 Percent

Total sales of petroleum products increased by 34% on an annual basis in May 2022, while total petroleum reserves decreased by 17.1% (18,020 tons) at the end ...
   

Petrides Discusses Russian Sanctions With US Secretary Of The Treasury Yellen

The US and Cyprus’ commitment to implement sanctions on Russia for its war in Ukraine was the major issue of discussion between Cyprus Minister of Finance ...
   

Cyprus President To Attend Dinner For EU And NATO Leaders In Madrid

Cyprus President, Nicos Anastasiades, will attend a dinner for the EU and NATO leaders, that will take place on Tuesday in Madrid.
   

Alphamega Hypermarkets: Get Your Hands On Pelikan School Supplies Through The Stick & Win Loyalty Scheme

True to its long-established policy of rewarding its loyal customers, Alphamega Hypermarkets is giving them the opportunity to get their hands on top-quality ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

gold_june_issue
Enter_Cy_10/20-4/23

IMH LTD