Arab Finance: The African Development Bank Group’s (AfDB) board has approved a partial credit guarantee of $345 million equivalent in Chinese Renminbi to Egypt to finance green and social projects, the group stated on May 20^th.

The partial credit guarantee will enable Egypt to secure the equivalent of $500 million in the Panda Bond market, which are Chinese yuan-dominated bonds from foreign issuers.

Bond proceeds will be dedicated to projects in several sectors, including clean transportation, renewable energy, energy efficiency, sustainable water and wastewater management, financing for middle, small, and micro-sized enterprises (MSMEs), and essential health services initiatives.

“I believe that this step, leading to the issuance of a Sustainable Panda bond in the Chinese financial market, paves the way to explore new avenues to meet our strategic goals by entering new markets and widening our investor horizon, as well as achieving Egypt's vision 2030 targets,” Egyptian Minister of Finance Mohamed Maait commented.

“Egypt will be the first African country to issue a Panda bond,” African Development Bank Director General for North Africa Mohamed El Azizi said, adding that “this partial credit guarantee will enable Egypt to enhance its credit rating and catalyze financing from international investors on competitive terms and pricing.”

Egypt mulls issuing $4B international bonds in 12 months Updated 7/20/2025 7:30:00 AM

Beltone Leasing closes 2nd bond in less than 9 months at EGP 2B Updated 5/20/2025 9:19:00 AM

MNT-Halan completes Egypt’s largest corporate bond issuance at EGP 2.5B Updated 5/6/2025 8:39:00 AM

Egypt’s international bonds surge following Israel-Hamas ceasefire agreement Updated 1/16/2025 9:11:00 AM

Contact closes EGP 1.21B securitization issuance for consumer finance subsidiaries Updated 12/29/2024 11:00:00 AM