By: Ahmed Allam

Cairo – Mubasher: Egypt’s Cabinet has approved the issuance of Eurobonds worth $3 billion to $7 billion, the finance minister said on Sunday.

The government has started the Eurobonds sale procedures after getting the cabinet’s approval, Mohamed Maait added on the sidelines of the third annual forum organised by CI Capital for investment in the Middle East and North Africa (MENA) region.

Deputy and assistant ministers have begun the offering roadshow in Japan and Maait will join them on Monday, 14 January.

Two government sources said earlier that Egypt was looking to issue Samurai bonds worth up to $2 billion for the first time this week.

Translated by: Mai Ezz El-Din