Arab Finance: The Asian Infrastructure Investment Bank (AIIB) will guarantee more than $200 million for Egypt’s upcoming green panda bond issuance, Minister of Finance Mohamed Maait told Al Borsa News on June 26th.

AIIB’s President Jin Liqun previously told Bloomberg that Egypt was in talks with the AIIB to guarantee the country’s climate-related bond issuance.

The guarantee will facilitate the North African country’s access to capital markets and trim its borrowing costs, Liqun said, adding that the bonds will be used to finance green projects.

Egypt is looking forward to collaborating with AIIB to issue the first Panda bonds in Africa and the Middle East over the coming period.

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