Maait said that its looking to diversify its financing tools, markets, sources and bonds and he also stated that he hopes to raise between $500 million and $1 billion through sustainability bonds in 2024. He also stated that the ministry has plans to issue another sukuk, panda and samurai bonds in 2024 but he didn’t specify more details. Egypt succeeded in offering the first ever issuance of sovereign Islamic with a value of $1.5 billion, with the subscription value amounting to about $6.1 billion, meaning that the subscription was 4 times oversubscribed in Feburary 2023. Finance minister also stated that the International Monetary Fund (IMF) confirmed its interest in increasing the amount of financing provided to Egypt. Georgieva was asked if the program would advance during the first quarter of 2024, to which she responded: "Yes, soon."

Source: Egypt Today December 05, 2023 12:19 UTC