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.