Latest news with #PandaBonds
Al-Ahram Weekly
10-07-2025
- Business
- Al-Ahram Weekly
Egypt, China ink 3 financial cooperation agreements - Economy
Hassan Abdalla, the governor of the Central Bank of Egypt (CBE), and Pan Gongsheng, the governor of the People's Bank of China (PBOC), signed three cooperation agreements on Thursday aimed at deepening financial cooperation between the two countries. The signing took place following a meeting between the two sides during Gongsheng's current official visit to Cairo. The meeting, held at the CBE headquarters, underscored the growing strategic partnership between Egypt and China and explored mechanisms for expanding cooperation between their central banks. During the talks, both sides discussed ways to strengthen coordination on various monetary and financial issues, including activating a local currency swap agreement, facilitating payments settlement in local currencies, exploring the issuance of Panda Bonds, and creating interoperability between their respective national payment systems. The two governors also explored ways to increase the presence of banks from each side in the other's financial system and to promote bilateral investment flows. For his part, Abdalla expressed his appreciation for Gongsheng's visit and the deep-rooted ties between Egypt and China, highlighting the occasion as a valuable platform for exchanging expertise and reinforcing collaboration in banking and financial services. He affirmed that this cooperation supports economic stability and advances sustainable development objectives for both countries. The two central bank governors witnessed the signing of three memoranda of understanding aimed at expanding cooperation across key sectors of mutual interest. The first memorandum was signed between the Suez Canal Bank, China-Africa TEDA Investment Company, and CIPS Company Limited — the institution responsible for operating China's Cross-border Interbank Payment System (CIPS). The agreement aims to enhance the use of the Chinese yuan within the China-Egypt Suez Economic and Trade Cooperation Zone, facilitating smoother trade and financial transactions between the two countries. The second was signed between UnionPay International and the Egyptian Banks Company for Technological Advancement (EBC). This agreement aims to strengthen Egypt's electronic payment infrastructure and enhance the acceptance of UnionPay cards throughout the Egyptian market. The move is expected to enable UnionPay cardholders to make seamless purchases across electronic point-of-sale (POS) terminals and e-commerce platforms nationwide. The third MoU saw UnionPay International partner with Egyptian fintech company Paymob to support the expansion of electronic acceptance services for merchants and digital platforms connected to Paymob's network. This partnership aims to boost financial inclusion and make Egypt more accessible to Chinese consumers and businesses. The signing of the three memoranda reflects the joint commitment of Egypt and China to deepen their strategic partnership and strengthen financial connectivity. These steps align with broader efforts to advance digital transformation, enhance trade facilitation, and promote economic integration between the two nations. The visit marks a new chapter in Egypt-China relations, laying the foundation for more collaborative initiatives in banking, finance, and beyond. Follow us on: Facebook Instagram Whatsapp Short link:
First Post
16-06-2025
- Business
- First Post
Panda Bonds Explained: Why Brazil Is Embracing China's Yuan Vantage with Palki Sharma
Panda Bonds Explained: Why Brazil Is Embracing China's Yuan | Vantage with Palki Sharma | N18G Panda Bonds Explained: Why Brazil Is Embracing China's Yuan | Vantage with Palki Sharma | N18G Brazil is turning to China for capital. President Lula da Silva's government plans to issue Panda Bonds - debt sold in Chinese yuan to Chinese investors. This move not only diversifies Brazil's borrowing but also challenges the dominance of the US dollar. As BRICS gains momentum and trust in Washington fades, Panda Bonds are becoming a symbol of a shifting world order. Palki Sharma explains the implications. See More
Zawya
21-05-2025
- Business
- Zawya
AfDB to back Egypt's upcoming sustainable Samurai Bonds issue with $400mln PCG
Arab Finance: The African Development Bank (AfDB) is planning to provide a partial credit guarantee (PCG) worth $400 million, or its equivalent in Japanese yen, to support Egypt's upcoming issuance of sustainable Samurai bonds, Abdourahmane Diaw, the bank's Country Manager for Egypt, told Al Arabiya Business. The guarantee proposal is expected to be presented to the AfDB Board of Directors in September 2025, Diaw highlighted. He also stated that the proposed guarantee would support the Egyptian government to issue sustainable Samurai bonds worth up to $500 million, which will be offered in the Japanese market. This move reflects the bank's ongoing commitment to support innovative green finance instruments, Diaw said. In May 2023, the AfDB approved a $330 million PCG for Egypt's debut sustainable Panda bonds, which were issued in China's financial markets. For 2025, the AfDB has allocated a total of $746 million in funding to Egypt, Diaw noted, adding that this sum covers both sovereign and non-sovereign operations, including support for four key strategic projects. According to Diaw, the AfDB's current portfolio in Egypt amounts to approximately $2.045 billion, spanning sovereign and non-sovereign projects. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Business Recorder
23-04-2025
- Business
- Business Recorder
Aurangzeb highlights Panda, ESG bonds in key meetings at Washington: Finance Division
Finance Minister Muhammad Aurangzeb expressed Pakistan's interest in returning to the financial markets, including the issuance of Panda and ESG bonds, in key meetings with the delegations of Deutsche Bank and Moody's at Washington, a statement from the Finance Division said. The meetings were held on the sidelines of the 2025 Spring Meetings of the IMF and the World Bank Group. In meeting with the Deutsche Bank team led by Myriam Ouazzani, Managing Director for the MENA region, Aurangzeb 'expressed Pakistan's interest in returning to the financial markets, including the issuance of Panda and ESG (environmental, social, and governance) bonds, supported by the country's macroeconomic stabilisation and recent credit ratings upgrade', the statement said. Panda Bonds are yuan-denominated debt instruments issued by foreign entities in China's onshore market. They provide an alternative financing mechanism for governments and corporations seeking to tap into China's vast liquidity while also supporting the internationalization of the Chinese yuan (RMB). ESG bonds are fixed-income securities issued to raise capital for projects that align with the principles of environmental, social, and governance criteria. These bonds allow issuers to finance initiatives that have positive impacts in areas such as renewable energy, social equality, and corporate governance. For investors, ESG bonds offer a way to contribute to responsible investment strategies while generating returns from their investments, according to the information available on Nasdaq website. In his meeting with Moody's commercial team in Washington, D.C Aurangzeb briefed the team on 'Pakistan's macroeconomic outlook, highlighting fiscal and current account surpluses, reduced inflation, a stable foreign exchange rate, and improved reserves', the Finance Division said. 'He also provided an update on the issue of the Panda Bond and agreed to continue discussions on possible collaboration in the future.' In January this year, Aurangzeb said Pakistan would raise around $200 million to $250 million from Chinese investors through Panda Bonds. Later in March, the finance czar said Pakistan was preparing to issue its first-ever Panda Bond in the Chinese market this calendar year (2025). 'I have been advocating, and I am very keen, that Pakistan—taking advantage of the second-largest and deepest capital market in the world—goes for an inaugural Panda bond,' the minister said in an interview with China Global Television Network (CGTN) then.
Express Tribune
27-03-2025
- Business
- Express Tribune
FM unveils plan to raise $200m via Panda bonds in China
Finance Minister Senator Mohammad Aurangzeb during an interview with VOA. SCREENGRAB Listen to article Finance Minister Muhammad Aurangzeb hinted that Pakistan may issue Panda Bonds in Yuan this year to tap into China's extensive capital market. Speaking in an interview with China's CGTN during the Boao Forum for Asia, Aurangzeb said Pakistan was ready to engage the Chinese interbank bond market after previously issuing debt only in Western markets. 'I have been advocating and I am very keen that Pakistan… go for an inaugural Panda bond,' he said. 'We are very hopeful that during this calendar year, we will do that.' Panda bonds are yuan-denominated debt instruments issued by foreign entities in China. They offer an opportunity to attract investment from Chinese financial institutions including banks, asset managers and insurers. Aurangzeb noted that while Pakistan had experience with issuing dollar and euro bonds, this would mark its first entry into the Chinese debt market. The move is part of a broader effort to diversify funding sources and reduce reliance on Western markets. The government is seeking to bolster its foreign exchange reserves and stabilise its economy after recovering from a prolonged economic crisis that nearly pushed the country into sovereign default two years ago. In January, the finance minister said the Panda bond issue would target around $200 million. His announcement comes after major credit agencies upgraded Pakistan's sovereign ratings, enhancing the country's prospects of returning to global bond markets. The finance chief added that Pakistan was leveraging its improved macroeconomic indicators and looking to build deeper financial ties with Beijing.
