Skip to content Skip to Search
Skip navigation

Egypt to issue new bonds to meet 2050 sustainable goals

By Pramod Kumar
REUTERS/Mohamed Abd El Ghany
A farmer picks mangoes after the yield dropped because of high temperature in Ismailia, Egypt, on August 18, 2023

Egypt is planning to launch new bond issuances on the debt markets to support its 2050 national climate change strategy, a local news daily reported.

The finance ministry intends to issue “blue and green bonds”, which are linked to environmental and water projects, as well as social and sustainable bonds related to women’s empowerment, Daily News Egypt reported citing a document from the government’s information and decision support centre.

The value and time of the bond issues were not given.

In addition, the ministry aims to expand the categories of green projects with a social dimension in Egypt’s sustainable portfolio.

Earlier, finance minister Mohamed Maait said that the government is readying to issue Panda bonds worth EGP500 million before the end of the year, with a guarantee from the African Finance Corporation. 

Panda bonds are bonds issued by foreign entities in China’s domestic market.

Egypt in March 2022 became the first Middle Eastern country to issue a $500 million Samurai bond. Foreign entities issue these bonds in Japan’s domestic market.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]