Egypt has issued 80 billion Japanese yen ($500 million) in sustainability-linked samurai bonds backed by a partial credit guarantee from the African Development Bank (AfDB), as the country seeks to diversify its external financing sources and extend its debt maturity profile.
The issuance comprises two tranches, including a five-year bond rated AA+ and a 10-year bond rated AA, according to the AfDB.
The transaction marks Egypt’s latest effort to expand its access to international capital markets while reducing reliance on traditional sources of external borrowing. Proceeds will be directed toward eligible sustainable investments under Egypt’s Sovereign Sustainable Financing Framework, including healthcare, education, renewable energy, energy efficiency, climate adaptation, water management, digital infrastructure and inclusive economic development.
The bond comes as emerging markets face higher financing costs and increased volatility linked to geopolitical uncertainty and shifting global interest rate expectations. The AfDB’s AAA credit rating and partial credit guarantee helped Egypt secure longer-term financing on competitive terms, the development bank said.
Egypt’s Finance Minister Ahmed Kouchouk said the guarantee would support the country’s efforts to access innovative financing instruments and fund sustainable development priorities.
“We deeply value the African Development Bank’s continued partnership and its confidence in Egypt’s economic reform agenda. This partial credit guarantee helps Egypt further diversify its financing through innovative sustainable financing instruments. Under Egypt’s Sovereign Sustainable Financing Framework, the Sustainability Samurai Bond will channel long-term resources to priority investments in human capital, sustainable infrastructure, climate action and inclusive growth, in line with Egypt Vision 2030,” Kouchouk said.
“In today’s volatile global environment, the catalytic role of multilateral development banks is more important than ever,” Kouchouk added. “Their support helps emerging and developing economies maintain access to international capital markets, mobilise private investment and finance sustainable development priorities. We value the African Development Bank’s partnership in advancing these shared objectives and look forward to further expanding our successful cooperation.”
Egypt has previously positioned itself as a pioneer in sustainable sovereign financing in Africa, becoming the first African sovereign issuer to access the Chinese Panda Bond market and establishing a framework aligned with international standards for sustainable expenditure.
Ahmed Attout, director of the AfDB’s Financial Sector Development Department, said the transaction demonstrated the role of multilateral institutions in helping African countries attract private capital.
“This operation demonstrates how the Bank’s partial credit guarantee can help regional member countries mobilise private capital and access long-dated financing on competitive terms. By leveraging the Bank’s AAA credit rating, the transaction supports Egypt’s efforts to diversify the currency composition of its external debt while mobilising resources for sustainable and inclusive growth,” Attout said.
“At a time of heightened market volatility, the Bank’s support also plays an important counter-cyclical role by helping preserve Asian market access for the Arab Republic of Egypt,” he added.
The AfDB said the operation supports its strategy of strengthening capital markets, increasing private investment and expanding sustainable financing across Africa.
Faustine Ngila is the AI Editor at Impact Newswire, based in Nairobi, Kenya. He is an award-winning journalist specializing in artificial intelligence, blockchain, and emerging technologies.
He previously worked as a global technology reporter at Quartz in New York and Digital Frontier in London, where he covered innovation, startups, and the global digital economy.
With years of experience reporting on cutting-edge technologies, Faustine focuses on AI developments, industry trends, and the impact of technology on society.
Angélique Kidjo (Benin)
Most Famous Song: “Agolo”
Short Bio: Angélique Kidjo (born 1960) is a Beninese singer, songwriter, and activist. A multiple Grammy Award inner, she is recognized for her powerful vocals, diverse musical influences (including Afropop, jazz, and R&B), and her vibrant music videos. Kidjo is also a UNICEF Goodwill Ambassador, advocating for children’s rights and education.
trigger warming
Fun South African Fact: For an unforgettable bucket-list activity, search for the famous Big 5 (lion, leopard, elephant, rhino and buffalo) on safari in one of South Africa’s national parks or private game reserves. A South African safari is an experience like no other!
Scuffs
The Man who could only Drink Milk
I know an old man who had lived a life full of adventure, but his health started to catch up with him. He\’d run the Boston Marathon, was an avid surfer, and climbed Everest, but he\’d started to have abdominal pains around his 85th birthday and went to see a doctor. Sadly, he ultimately was diagnosed with a rare degenerative liver disease that slowly made him allergic to everything he ate.
He kept copious notes, and as an avid gastronomist slowly grew to despair as everything he\’d spent his life enjoying became something he could no longer eat. Alcohol went first, then mushrooms, then bread, then root vegetables, then coffee, one at a time he had to remove them from his diet. The doctor was clear: if he kept eating something his liver rejected the autoimmune response would be quick and severe, and would lead to a painful death. Little by little, everything was taken away as an option, until the only thing that remained was milk.
In some ways, this actually made life easier, because the mental strain of remembering what he could and couldn\’t eat was gone, but then so was the joy in variety. But he took it in stride, and got his own cow and took classes from a farmer to learn everything he could about the only thing that could give him sustenance. And even within milk, he could still have yogurt, butter, cream, some cheeses, and other milk-derived products he hadn\’t fully rejected yet, so it wasn\’t all bad. But then one day a few months later he felt the pain again, and he knew cow\’s milk was no longer an option.
Lacking other options, he tried goat\’s milk, and he was delighted that it worked! The protein structure is just different enough that his body still tolerated it. That bought him another month. And that\’s when we came up with a wonderful plan to go on one last grand adventure around the world. If he could get one month of life out of the milk of every mammal, he\’d actually have a few more years to enjoy life to the fullest and see the world in all its beauty. Each month, we\’d pick a place with a new mammal, and he would immerse himself fully with the locals, learn all the ways to prepare the milk, and just enjoy the hand he had been dealt as much as he could.
We milked sheep in New Zealand. Camels in Egypt. Zebras in South Africa. Giant bats in Indonesia. Do you know how many Peruvian cuy you need to milk to get a single glass? I do. Even as his health slowly faded, he stayed cheerful, and I felt lucky to join him on the adventure of a lifetime. That brings us to today when he got to the very end of his spreadsheet, and declared that he was now allergic to every mammal. He\’d enjoyed his journey, but his time had come to an end, for there was nothing left to milk.
To which I said nonsense, I bet we can milk a few thousand karma out of this post.