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Last week, Saudi Arabia’s Ministry of Finance (MoF) launched its Green Financing Framework under the Financial Sector Development Program, aimed at driving forward sustainable funding efforts and achieving Vision 2030 goals.
The framework outlines eight types of projects eligible for funding through green bonds, including renewable energy, energy efficiency, sustainable transport, climate adaptation and more.
A timeline for the issuance wasn’t shared; however, issuances will be done through the MoF, with two committees responsible for oversight and funding allocation: the Sustainable Financing Committee and the Projects and Monitoring Committee.