The UAE intends to issue federal green bonds, in order to fulfill the desire of global investors, according to what was stated by the Undersecretary of the UAE Ministry of Finance Younis Haji Al-Khoury.
According to Arabiya Net, he added during a press conference that the goal of the UAE launching federal dollar bonds in global markets is to build a bond yield curve, enabling it in the coming periods to issue local bonds in dirhams.
While Khoury did not specify a date for the issuance of these bonds, he indicated that the UAE Ministry of Finance is working with the World Bank and other institutions to determine the appropriate time to issue federal bonds in UAE dirhams.
He stated that the Central Bank of the Emirates will issue the federal bonds in the local currency, indicating that these bonds will provide a new investment pool through which the investor in the UAE can diversify his investments.
He pointed out that the UAE's public debt law stipulates that 15% of the proceeds from the issuance of federal bonds can be used to finance infrastructure projects, while the rest of the proceeds are invested. 85%.
