{"id":1700,"date":"2023-10-17T17:00:05","date_gmt":"2023-10-17T15:00:05","guid":{"rendered":"https:\/\/sahfy.net\/news\/?p=1700"},"modified":"2023-10-17T17:00:05","modified_gmt":"2023-10-17T15:00:05","slug":"egypt-issues-africas-first-sustainable-panda-bond-worth-3-5-billion-rmb-backed-by-african-development-bank-and-asian-infrastructure-investment-bank","status":"publish","type":"post","link":"https:\/\/sahfy.net\/news\/?p=1700&lang=en","title":{"rendered":"Egypt issues Africa\u2019s first Sustainable Panda Bond worth 3.5 billion RMB backed by African Development Bank and Asian Infrastructure Investment Bank"},"content":{"rendered":"<p><strong><span lang=\"EN-GB\">Abidjan, 17 October<\/span><\/strong><span lang=\"EN-GB\">\u00a0<strong>2023<\/strong>\u00a0\u2013 Egypt has successfully issued a 3-year Sustainability Panda Bond worth\u00a0 RMB 3.5 billion ($478.7 million). The North African nation is the first on the continent to do so, a move that underscores its commitment to access previously untapped sources of capital to drive economic growth.<\/span><\/p>\n<p><span lang=\"EN-GB\">The African Development Bank and the Asian Infrastructure Development Bank provided partial credit guarantees to support the issuance, paving the way for other African countries to access fast-growing Chinese debt capital markets.\u00a0<\/span><span lang=\"EN-US\">Panda bonds are issued in China&#8217;s domestic capital market by foreign issuers, typically governments or corporations, and are denominated in Chinese yuan.<\/span><\/p>\n<p><span lang=\"EN-US\">The combined guarantees from the two multilateral development banks with triple-A ratings helped crowd in investors and secured competitive terms for the transaction. The Bank of China Limited, with support from HSBC Bank (China) Company Limited, was the lead underwriter and bookrunner.<\/span><\/p>\n<p><a name=\"m_6224968655398448598_x__Hlk134446113\"><\/a><span lang=\"EN-US\">Egypt will use the bond proceeds for inclusive growth and green objectives under its Sovereign Sustainable Financing Framework. The Framework, which was launched ahead of the COP27 climate conference held in Egypt last year, targets sustainable development through investments in clean transportation, renewable energy, energy efficiency, sustainable water and wastewater management, financing for micro, small, and medium-sized enterprises, and essential health services initiatives, among others.<\/span><\/p>\n<p><span lang=\"EN-US\">Egypt\u2019s Minister of Finance, Dr. Mohamed Maait, said: &#8220;Egypt is the first African sovereign to issue Panda Sustainable Bonds in the Chinese Financial Markets. This is a historical move not just for the country but for the entire continent. We have paved the way for alternate, sustainable financing for our African neighbours and have deepened the partnership with our Chinese counterparts. It\u2019s more than just a financing source; it\u2019s a testimony of how important our economic and financial ties are with the Government of China.&#8221;<\/span><\/p>\n<p><span lang=\"EN-US\">Mohamed El Azizi, African Development Bank Director General for North Africa, described the issuance as ground-breaking. \u201cThis first Panda bond issuance by an African sovereign is the perfect example of how African Development Bank Regional Member countries could leverage the Bank\u2019s AAA credit rating to penetrate new markets and mobilize sustainable financing at competitive terms from international investors,\u201d El Azizi said.<\/span><\/p>\n<p><span lang=\"EN-US\">Egypt has previous experience tapping sustainable bond markets. In 2020, it became the first country in the Middle East\/North Africa region to issue a green bond . In 2022, it was the first African and Middle East country to access Japanese capital markets, issuing a Samurai bond of 60 billion Japanese yen (about $500 million).<\/span><\/p>\n<p><span lang=\"EN-US\">\u201cEgypt\u2019s Panda Bond transaction shows our unwavering commitment to deepen the continent\u2019s access to sustainable financing at scale, which to date is very small,\u201d said Ahmed Attout, African Development Bank Acting Director for Financial Sector Development. \u201cWhile Egypt may be the first African nation to issue on the Panda Bond Market, it won&#8217;t be the last, as we stand ready to support RMCs to mobilize new development financing at scale on both local and international capital markets,\u201d he added.<\/span><\/p>\n<p><span lang=\"EN-US\">Egypt\u2019s Sovereign Sustainable Financing Framework aligns with the African Development Bank Group\u2019s country strategy for Egypt as well as its High-5 operational priorities.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abidjan, 17 October\u00a02023\u00a0\u2013 Egypt has successfully issued a 3-year Sustainability Panda Bond worth\u00a0 RMB 3.5 billion ($478.7 million). The North African nation is the first on the continent to do so, a move that underscores its commitment to access previously untapped sources of capital to drive economic growth. The African Development Bank and the Asian [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1701,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[83,15],"tags":[2434,2432,2430,2436],"class_list":["post-1700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-egypt-en","category-press-releases","tag-african-development-bank-director-general-for-north-africa","tag-dr-mohamed-maait","tag-egypts-minister-of-finance","tag-the-african-development-bank-groups-country"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Egypt issues Africa\u2019s first Sustainable Panda Bond worth 3.5 billion RMB backed by African Development Bank and Asian Infrastructure Investment Bank - sahfy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sahfy.net\/news\/?p=1700&lang=en\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt issues Africa\u2019s first Sustainable Panda Bond worth 3.5 billion RMB backed by African Development Bank and Asian Infrastructure Investment Bank - sahfy\" \/>\n<meta property=\"og:description\" content=\"Abidjan, 17 October\u00a02023\u00a0\u2013 Egypt has successfully issued a 3-year Sustainability Panda Bond worth\u00a0 RMB 3.5 billion ($478.7 million). The North African nation is the first on the continent to do so, a move that underscores its commitment to access previously untapped sources of capital to drive economic growth. The African Development Bank and the Asian [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sahfy.net\/news\/?p=1700&amp;lang=en\" \/>\n<meta property=\"og:site_name\" content=\"sahfy\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-17T15:00:05+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/sahfy.net\/news\/wp-content\/uploads\/2023\/10\/Egypts-Minister-of-Finance-Dr.-Mohamed-Maait.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sahfy Sahfy\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u0643\u064f\u062a\u0628 \u0628\u0648\u0627\u0633\u0637\u0629\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sahfy Sahfy\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u0648\u0642\u062a \u0627\u0644\u0642\u0631\u0627\u0621\u0629 \u0627\u0644\u0645\u064f\u0642\u062f\u0651\u0631\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 \u062f\u0642\u0627\u0626\u0642\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sahfy.net\/news\/?p=1700&lang=en#article\",\"isPartOf\":{\"@id\":\"https:\/\/sahfy.net\/news\/?p=1700&lang=en\"},\"author\":{\"name\":\"Sahfy Sahfy\",\"@id\":\"https:\/\/sahfy.net\/news\/#\/schema\/person\/e010cfaee71765ed4f2af1e54f173967\"},\"headline\":\"Egypt issues Africa\u2019s first Sustainable Panda Bond worth 3.5 billion RMB backed by African Development Bank and Asian Infrastructure Investment Bank\",\"datePublished\":\"2023-10-17T15:00:05+00:00\",\"dateModified\":\"2023-10-17T15:00:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sahfy.net\/news\/?p=1700&lang=en\"},\"wordCount\":535,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/sahfy.net\/news\/#organization\"},\"keywords\":[\"African Development Bank Director General for North Africa\",\"Dr. Mohamed Maait\",\"Egypt\u2019s Minister of Finance\",\"the African Development Bank Group\u2019s country\"],\"articleSection\":[\"Egypt\",\"Press Releases\"],\"inLanguage\":\"ar\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/sahfy.net\/news\/?p=1700&lang=en#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sahfy.net\/news\/?p=1700&lang=en\",\"url\":\"https:\/\/sahfy.net\/news\/?p=1700&lang=en\",\"name\":\"Egypt issues Africa\u2019s first Sustainable Panda Bond worth 3.5 billion RMB backed by African Development Bank and Asian Infrastructure Investment Bank - 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