Egyptian delegation reaffirms commitment to Africa's development at AfDB meetings

Led by Governor of the Central Bank of Egypt Hassan Abdalla, Minister of International Cooperation Rania Al-Mashat, and Deputy Governor Tarek El-Kholy, an Egyptian delegation attended the 59th Annual Meeting of the African Development Bank Group (AfDB) in Nairobi, Kenya.

The meetings, held under the theme “Transforming Africa, the African Development Bank Group, and Reforming the Global Financial System”, coincided with the 60th anniversary of the bank's establishment.

Egypt's participation underscored its commitment to strengthening cooperation on the continent. The meetings provided a crucial platform to address economic challenges, exchange views and propose innovative financial solutions.

The discussions, which brought together central bank governors and finance ministers from 81 regional and non-regional member countries, focused on the AfDB's operations, governance and strategies to improve efficiency. This is reported by Daily News Egypt, a partner of TV BRICS.

Egypt is the third-largest contributor to the AfDB’s capital and one of six African donor countries to the African Development Fund. The cooperation portfolio between Egypt and the AfDB has amounted to approximately US$7 billion since 1974, financing numerous development projects in sectors including energy, transportation, agriculture, water, irrigation, sanitation, and entrepreneurship.