| Approval Date | 10 Jul 2015 |
| Signature Date | 15 Nov 2015 |
| Planned Completion Date | 30 Sep 2020 |
| Last Disbursement Planned Date | 30 Sep 2020 |
| Sovereign / Non-Sovereign | Sovereign |
| Sector | Finance |
| DAC Sector Code | 24030 |
| Commitment | U.A 891,595 |
| Status | Completion |
The modernization of the egyptian Central Bank clearing and settlement depository system for Government securities project consists in providing necessary IT infrastructure and capacity to the Central Bank of Egypt (CBE) in order to establish a liquid reference benchmark on the short end, building up to the long end of the yield curve. This should enable higher volumes of trading on the secondary market in a transparent and efficient manner through the centralization of Central Securities Depository System (CSD) functions. The latter will also facilitate the introduction of new instruments to the market and enable the CBE to collect consolidated market data efficiently. In addition, once a reliable benchmark yield curve is created, based on market price information, it will promote the introduction of new financial instruments. Corporate bond issuers will greatly benefit when they price new issues. It is expected that the enhancement will provide both local and foreign investors greater access to the Egyptian capital market and will promote confidence amongst the market participants. In turn, the project will improve market liquidity for all debt instruments.
The project aims to provide necessary IT infrastructure and capacity to the Central Bank of Egypt (CBE) in order to establish a liquid reference benchmark on the short end, building up to the long end of the yield curve.
The beneficiaries of the project are the Central Bank of Egypt and the corporate bond users.
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Implementing
Government of Egypt
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Funding
Middle Income Countries Fund
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| IATI identifier | 46002-P-EG-H00-002 |
| Last Update | 21 Mar 2023 |
| Name | Ismail MAHAMOUD HOUSSEIN |
| i.mahamoudhoussein@afdb.org |