Skip to content Skip to Search
Skip navigation

Egypt turns to Asia to secure low-cost funding

Egypt wants to deepen cooperation with Asian partners to attract more investors, said finance minister Mohamed Al Al Maait Reuters/Amr Abdallah Dalsh
Egypt wants to deepen cooperation with Asian partners to attract more investors, said finance minister Mohamed Al Al Maait

Egypt is ready to explore the Asian financial market to diversify funding sources and reduce financing costs, according to the country’s finance minister.

“We are expanding our green, sustainable, and low-cost blue financing, with the aim of directing it towards funding projects in sustainable public transportation, health, education, agriculture, food, and other socially impactful projects,” the UAE state-run Wam news agency reported Mohamed Maait as saying at the Asian Financial Forum in Hong Kong.

Egypt has diversified its funding sources globally, including issuing the first green sovereign bonds in the Middle East and North Africa. The country also entered the Chinese market with a sustainable Panda bond and returned to Japanese markets with the second international issuance of Samurai bonds.

This approach is to attract new segments of investors and contribute to achieving sustainable development goals, the minister said.

Maait urged the need for innovative and facilitative financing solutions, given the challenges faced by countries in meeting the essential needs of their citizens due to rising prices and difficulties accessing international markets.

Egypt seeks to deepen cooperation with Asian partners to attract more investors, leveraging the country’s promising economic opportunities and competitive advantages, he added.

Latest articles

Saudi sport

Saudi sports push ‘winning global audiences’

Saudi sports investments are winning a global audience as the kingdom tries to overcome charges of “sport washing”, a major survey of media coverage said this month. Media analytics consultancy Carma found that coverage of human rights in Saudi Arabia fell in favour of “a sports-related narrative” around the world, including in the West. The […]

Gas flaring at a plant in Veracruz state, Mexico. The country is one of the biggest contributors to global flaring, along with Iran, Iraq and Libya

Iran, Iraq and Libya among worst offenders on gas flaring

Environmentally ruinous flaring of gas at upstream oil and gas facilities has risen to its highest level for five years, despite pledges to end the practice, the World Bank has said. Iran, Iraq and Libya were among the biggest contributors in 2023, according to a World Bank report published on June 20. Along with six […]

Knight Frank predicts that the value of the Saudi Arabia's construction projects will grow to $181.5 billion by the end of 2028

Riyadh dominates Saudi Arabia’s construction market

Riyadh and its surroundings account for nearly 40 percent of the value of existing construction contracts in Saudi Arabia, at US$54 billion, according to new research. The provinces of Mecca – which includes Jeddah – and Tabuk in the north of the kingdom follow the capital region, with $28.7 billion and $28.5 billion in awarded […]

Mubadala injects $250m to revive Turkey’s Getir

Abu Dhabi’s Mubadala Investment Company will invest $250 million in Turkish grocery delivery startup Getir as part of a restructuring programme that will split it into two standalone units. The first standalone business will focus on domestic online groceries and food delivery services, with Mubadala, an existing shareholder, holding the management and majority stake, Reuters […]