Egypt has issued $1 billion in social and development bonds, marking the first sovereign issuance of its kind in the Middle East and North Africa since the Iran conflict escalation. The eight-year bonds carry a 6.7% yield and drew subscriptions more than five times the targeted amount.
The Ministry of Finance stated on Wednesday that proceeds will fund projects to improve healthcare and education while strengthening human capital investment.
Egypt is currently repaying more external debt than it borrows and aims to reduce the outstanding external debt of budget-sector entities by $1 billion to $2 billion annually.
Officials noted that proactive management of geopolitical tensions and global economic challenges has reinforced investor confidence and sustained demand for Egyptian debt.