Egypt seeks JBIC support for third Samurai bond issuance
Egypt is seeking support from the Japan Bank for International Cooperation (JBIC) for a planned third Samurai bond issuance, Foreign Minister Badr Abdel-Atty said during talks in Tokyo on Wednesday.
Abdel-Atty raised the issue during a meeting with JBIC Governor HAYASHI Nobumitsu, highlighting the bank’s role in supporting Egypt’s first two Samurai bond issuances in 2023 and 2024.
He said Egypt hopes JBIC will help promote the planned issuance among Japanese financial institutions and investors, according to a statement from Egypt’s Foreign Ministry.
The meeting, held during Abdel-Atty’s official visit to Japan, focused on expanding economic and investment cooperation and strengthening the role of Japanese financing in supporting Egypt’s development priorities.
Abdel-Atty expressed appreciation for JBIC’s financing and credit guarantees for Japanese projects operating in Egypt, particularly in renewable energy and infrastructure, describing the bank as an important partner in supporting economic development.
He said economic reforms had improved Egypt’s investment environment and positioned the country as a potential production and export base for Japanese companies seeking to diversify supply chains amid geopolitical uncertainty and disruptions to global trade.
Abdel-Atty also highlighted Egypt’s strategic location and network of free-trade agreements, which provide access to markets across Africa, the Middle East, and Europe.
During the talks, he called for stronger Japanese support for Egypt’s industrial localisation strategy, particularly in sectors, including solar panel manufacturing, renewable energy components, water desalination technologies, and electric vehicles.
He said greater investment in those industries would help strengthen Egypt’s manufacturing base and support sustainable development goals.
The discussions also covered opportunities in research and development. Abdel-Atty highlighted growth in Egypt’s information technology sector and said the country was increasingly attracting investment in research and development activities.
The two officials also explored ways to expand Japanese investment and technology partnerships in Egypt.
Egypt and Japan elevated relations to a strategic partnership in 2023 and have since expanded cooperation in financing, industry, education, and technology projects.
Attribution: Amwal Al Ghad English