Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 18.5 billion on Sunday on behalf of the Ministry of Finance (MoF).

The first tranche will be offered through 182-day notes valued at EGP 9 billion, while the second tranche stands at EGP 9.5 billion and will be offered through 357-day notes, the CBE said via its official website.

The issuance will be used to finance the country’s budget deficit.

The North African nation previously announced plans to diversify its financing sources and expand into long-term debt instruments, instead of short-term borrowing.