Finance Min.: Government Prepares to Issue First Sovereign Bonds Soon

Dr. Mohamed Maait, Minister of Finance, affirmed that the state is keen to persify sources and financing tools by attracting new segments of Egyptian and foreign investors wishing to invest in accordance with Islamic law. The minister added that those bonds would contribute to reducing the cost of financing development through sovereign green and sustainable development instruments to provide the necessary liquidity for the implementation of investment and development projects. The green bonds are included in the economic and social development plan in the state’s general budget. The minister stressed that the issuance of bonds is in line with the state’s efforts to stimulate demand for government issuances of securities and debt instruments that are issued in local and foreign currencies, to enhance aspects of spending to improve citizens’ standard of living and meet the development needs of the state. He pointed out that the government is preparing to issue the first sovereign bonds during the coming period; which helps in achieving the desired goals.