AfDB to back Egypt’s upcoming sustainable Samurai Bonds issue with $400M PCG
Updated 5/20/2025 10:07:00 AM
Arab Finance: The African Development Bank (AfDB) is planning to provide a partial credit guarantee (PCG) worth $400 million, or its equivalent in Japanese yen, to support Egypt's upcoming issuance of sustainable Samurai bonds, Abdourahmane Diaw, the bank’s Country Manager for Egypt, told Al Arabiya Business.
The guarantee proposal is expected to be presented to the AfDB Board of Directors in September 2025, Diaw highlighted.
He also stated that the proposed guarantee would support the Egyptian government to issue sustainable Samurai bonds worth up to $500 million, which will be offered in the Japanese market.
This move reflects the bank’s ongoing commitment to support innovative green finance instruments, Diaw said.
In May 2023, the AfDB approved a $330 million PCG for Egypt’s debut sustainable Panda bonds, which were issued in China’s financial markets.
For 2025, the AfDB has allocated a total of $746 million in funding to Egypt, Diaw noted, adding that this sum covers both sovereign and non-sovereign operations, including support for four key strategic projects.
According to Diaw, the AfDB’s current portfolio in Egypt amounts to approximately $2.045 billion, spanning sovereign and non-sovereign projects.
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