The African Development Bank (AfDB) is planning to provide a partial credit guarantee (PCG) worth $400 million, or its equivalent in Japanese yen, to support Egypt's upcoming issuance of sustainable Samurai bonds.

Asian bonds, such as Samurai and Panda bonds, have been issued in Egypt to finance various projects, including climate change adaptation and mitigation efforts, sustainable transportation, renewable energy, and others. Despite the challenges that may face Asian bonds, these bonds could have a significant impact on the Egyptian economy, facilitating the country's access to capital markets and reducing its borrowing costs.

The Egyptian cabinet has renewed its approval on the issuance of new Samurai bonds worth $500 million that mature in five years.

The Egyptian government is planning to issue JPY-denominated bonds worth $500 million before the end of November, Minister of Finance Mohamed Maait said.

Egypt is looking forward to securing new external financing ranging between $1.5 and $2 billion, including $1 billion by issuing Samurai and Panda bonds by the end of 2023.

The Egyptian Cabinet has approved several decisions, including the new issuance of five-year Samurai bonds worth $500 million.