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Panda bonds are Chinese renminbi-denominated bonds from a non-Chinese issuer, sold in the People’s Republic of China.
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The first two Panda bonds were issued in October 2005 by the International Finance Corporation and the Asian Development Bank on the same day.
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The Philippines issued its inaugural Panda bonds in 2018. It was the first ASEAN member to issue Panda bonds.
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Why in news? Pakistan has decided to issue Panda Bonds.