Egypt intends to cooperate with Japan to issue green samurai bonds, Minister of Finance, Mohamed Maait announced
The step comes after the Arab world’s most-populous nation successfully closed its first Japanese yen-denominated bonds in Japan, selling 60 billion Japanese yen (JPY).
Maait reiterated that the previous bond issuance attracted many investors, indicating their confidence in the Egyptian economy and its ability to achieve its objectives amidst the ongoing global economic repercussions.
In addition, he noted that Egypt will team up with China to issue Chinese yuan-denominated panda bonds in the Chinese market, adding that the finance ministry also considers offering sustainable development bonds to finance social initiatives.
The minister’s statements were made earlier this day during his participation in the 11th African Accounting and Finance Conference organised by Nahda University.
Recently, Maait disclosed that Egypt’s economy has doubled three times during the six past years at rates surpassing the government’s debt rates.
During the previous fiscal year (FY) ended 30 June 2022, Egypt recorded a growth rate of 6.60% of the gross domestic product (GDP), the highest since 2008, compared to an international average growth rate of 3.20% for emerging economies.
