Egyptian Central Bank Launches Working Group for Sustainable Finance Taxonomy

The Central Bank of Egypt announced the creation of a technical working group that includes the ministries of foreign affairs, international cooperation, Egyptians abroad, finance, local development, environment, investment and foreign trade, together with the Financial Regulatory Authority. The group’s purpose is to develop a Sustainable Finance Taxonomy that classifies sustainable economic activities.

In its first meeting at the bank’s headquarters, members reviewed international best practices, standards, challenges and opportunities. The taxonomy is intended to provide reliable data for investors, attract green financing, improve risk‑management of projects and increase the volume of international sustainable finance for Egypt.