The effectiveness of an environmental credit line in Egypt: Synergies between market incentive and binding regulations

Among the many embodiments of the global sustainable development project, “green finance” is gaining ground and profile. Designed to both avoid investments with a negative environmental impact and make investments with positive environmental outcomes, green finance draws on a multifarious constellation of institutions, mechanisms, actors and practices all working towards a common general goal: to put the financial sector to work for objectives such as pollution abatement, preservation of biodiversity and natural resources, and greenhouse gas emissions reduction (Köhn, 2012). Green finance stands out for the indirect nature of the targeted contributions.