$2 billion.. Government offerings program before the end of June

Dr. Muhammad Maait, Minister of Finance, held a bilateral meeting with Muhammad bin Hadi Al-Husseini, Minister of State for Financial Affairs in the Emirates.

The meeting came on the sidelines of their participation in the annual meetings of the Islamic Development Bank Group in the Kingdom of Saudi Arabia, under the title: "Establishing partnerships to prevent crises."

$2 billion foreign investments

Maait said that the "government offerings" program, within the framework of Egypt's state ownership policy document, opens horizons for foreign investments, and the target is $2 billion before the end of the current fiscal year.

Attracting foreign investment

He added that the Egyptian economy attracted large foreign investments during the first half of the fiscal year, and that the measures and measures taken by the government and the reforms it implemented to enable the local and foreign private sector contribute to the rapid return of the Egyptian economy to strong and sustainable growth.

$1.5 billion Islamic sukuk

on the other hand, Dr. Mohamed Maait, Minister of Finance, said that Egypt is looking forward to its first issuance of panda bonds in Chinese yuan in the Chinese market to countries from Africa and the Middle East during the coming period. 

This Egyptian step to establish social and environmentally friendly projects came after its success in issuing dollar bonds, green bonds and samurai bonds.

The minister affirmed Egypt's keenness to enhance means of cooperation with international institutions, in line with the Egyptian approach to diversify financing sources, reviewing the government's efforts to launch the first issuance of sovereign Islamic sukuk in Egypt's history, at a value of $1.5 billion.

He pointed out that Egypt aims to strengthen multilateral development partnerships between international and regional development finance institutions and developing countries, in a manner consistent with the state's efforts to promote Egyptian investment opportunities and expand the role of the Asian Bank in development financing for the private sector.

Investment portfolio

The minister stated that Egypt is looking forward to expanding the role of the Asian Bank in development financing for the private sector, by creating a stimulating environment for domestic and foreign investment, thanking the bank for the continuous support that Egypt received from the Asian Bank, especially in the most important national projects.

He said, "We welcome the size of the bank's investment portfolio in Egypt, which has exceeded one billion dollars since the start of joint cooperation in 2016, as Egypt is one of the founding countries of the bank, and the largest shareholder of the bank from the countries of the African continent."