At its meeting today, the Council of Ministers approved the proposal of the Minister of Finance for the issuance by the Republic of Cyprus of a green/sustainable bond and authorized the Minister of Finance to proceed with all the necessary preparatory work for the successful outcome of this project.
Green/sustainable bonds are a financial instrument which attracts particular interest from international investors and its use by the Republic of Cyprus will offer multiple advantages as it will provide access to new investors and increase interest in the international capital markets in the Republic's issuance and broaden the financing options of the State.
The choice to promote this financial instrument indicates the will and commitment of the State to environmental and social issues and an integral part of the effort to transition to a green economy and to achieve the ecological objectives of the State within the framework of EU policies.
The Ministry of Finance will, in cooperation with all Ministries, Government Departments and Agencies involved, take the necessary steps for the successful completion of this project.
(BG/EXP)
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