The ministry attributed the successful issuance to a "significant and noticeable improvement" in Egypt's economic conditions and key financial indicators.
The second sukuk offering carries an annual coupon of 7.875%
and a three-year maturity. It aligns with the ministry's strategy to diversify
its funding sources across markets, instruments, and investors, demonstrating
its ability to meet financial targets despite evolving economic and political
landscapes.
This latest issuance follows Egypt's first sovereign sukuk
in February 2023, as part of its $5 billion international sovereign sukuk
program. The initiative aims to diversify financing tools, currencies, and
investor segments, while also extending debt maturity and reducing external
borrowing costs.
Kuwait Finance House (KFH), a leading global Islamic bank,
fully invested in the private placement, strengthening financial ties between
Egypt and Kuwait.
The Ministry of Finance reiterated its commitment to reducing the external debt of budgetary entities by $1 billion to $2 billion this year, with initial indicators suggesting these targets are achievable.