Egypt to issue $500M Samurai bonds: Cabinet
Updated 8/31/2023 7:36:00 AM
Arab Finance: The Egyptian Cabinet has approved several decisions, including the new issuance of five-year JPY-denominated bonds worth $500 million, a cabinet statement revealed.
This marks the country’s second issuance of Samurai bonds after issuing JPY 60 billion ($500 million) Samurai bonds back in 2022.
The cabinet also gave a nod to the Ministry of Communications and Information Technology to renew the agreement signed with the analytic data provider Teradata for one year with same terms.
As per the agreement, Teradata will provide the Egyptian government low-cost data analysis services with predetermined prices.
Moreover, the cabinet approved partnering with Telecom Egypt to provide the infrastructure of fiber-optic networks as part of the development works at Shaq El-Tho’ban area in Cairo to transform it into an international industrial city.
It also accredited the offer submitted by a consortium of Orascom Construction PLC, ENGIE, and Toyota Tsusho Corporation to implement further renewable energy projects with a capacity ranging between 150 and 200 megawatts (MW) to lure foreign investments into the country’s energy sector.
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