Egypt on 16 October raised 3.5bn Yuan ($479mn) in its first ever Chinese bond issuance.

Egypt’s finance ministry says the “sustainable ‘Panda’ bond” issuance was about more than just raising cash. Finance minister Mohamed Maait says that Egypt was aiming to diversify its fundraising and tap “new global markets…attracting many Chinese investors to finance sustainable development projects.” (CONTINUED - 130 WORDS)