Today, 28 years ago, on 31 January 1997 (Lunar Calendar 23 December 1996), the European Investment Bank first issued euro bonds. On 31 January 1997, the European Investment Bank first issued euro bonds with an amount of 1 billion euros and a term of 7 years. The bonds were settled in the current currency of the European Union, Egypt, before the European Economic and Monetary Union officially issued the euro on 1 January 1999, and after 1 January 1999.