In a press release after the approval by the Council of Ministers of the Finance Minister`s proposal for Cyprus to issue a green bond, the Ministry notes that the Cabinet authorised the Minister to proceed with all necessary preparations for its successful outcome.

The Ministry says that green/sustainable bonds are a financial tool that attracts special interest from international investors. It adds that its use by the Republic of Cyprus will offer multiple advantages as it will offer access to new investors and increase interest in international capital markets for the issuings of the Republic and will expand the financial choices of the state.

It notes that the promotion of this financial tool demonstrates the Republic`s commitment on environmental and social issues.

Source: In-Cyprus