Minister of Finance, Mohamed Maait confirmed that the Ministry was able to obtain low pricing for bonds with a return of 3.5% annually for a period of 3 years, which makes them more distinguished compared to the interest rates for international dollar bond issues, in light of the global economic challenges.

Maait highlighted that this particular issuance stands out due to its credit guarantee, provided by esteemed international development banks, namely the Asian Infrastructure Investment Bank and the African Development Bank. These institutions possess high credit ratings, further enhancing the appeal of the bonds.

The panda bonds, denominated in the Chinese currency, were met with strong demand from Chinese investors, reflecting their growing interest in sustainable investment opportunities. The issuance was oversubscribed, indicating confidence in Egypt's economic prospects and commitment to environmentally-friendly projects.

Earlier last week, Maait also stressed Egypt’s commitment to pay its external debts in the coming years relying on alternative tools and various markets to secure additional financing such as: samurai bonds, sukuk, and green bonds, panda bonds, in addition to the IPO program.