CAIRO, Oct 13 (Reuters) - Egyptian government bonds have been cleared to join J.P. Morgan’s GBI-EM investment index starting on Jan. 31, the investment bank said in a research note. Egypt would have an estimated weight of 1.85% in the index. Some 14 Egyptian pound government bonds worth a total $26 billion are eligible for the benchmark, the note said. The bonds have an average yield of 14.9% and a duration of 2.9 years. Local currency bond markets would benefit to the tune of $1.4-$2.2 billion if Egyptian bonds won inclusion to the index, the bank’s analysts said in April. Egypt has also been working to make its domestic debt “Euroclearable”. It is still discussing some technical issues and hopes to become Euroclearable within a few months, but not by an earlier target of November, Finance Minister Mohamed Maait said last month. JPMorgan’s index team placed Egypt and Ukraine on “Index Watch Positive” in April after steady improvement in liquidity and access to the onshore government bond markets for foreign investors. (Reporting by Patrick Werr Editing by Mark Heinrich) Our Standards: The Thomson Reuters Trust Principles.