CBE concludes preparations for annual meetings of AfDB in Sharm El-Sheikh

Hossam Mounir
2 Min Read

As part of the state’s directives to strengthen cooperation with African nations across all fields, especially on the economic level, the Central Bank of Egypt has completed the preparations to host the Annual Meetings of the African Development Bank Group from 22 to 26 May 2023, under the theme of “Mobilizing Private Sector Financing for Climate and Green Growth in Africa”.  

The event will witness the participation of AfDB governors representing 81 regional and non-regional member countries, in addition to Governors of Central Banks, Ministers of Finance, senior officials from the private sector, academia, and development partners, with an expected attendance of around 4,000 participants.

Hassan Abdalla, Governor of the Central Bank of Egypt, stated: “We are pleased to welcome governors of the African Development Bank, and our esteemed guests representing governmental agencies, regional and international financial institutions, and experts participating in the AfDB 2023 Annual Meetings, which come with high importance in the spate of the challenges facing the African continent and the current global dynamics.

Abdalla added: “Egypt’s hosting of the 2023 Annual Meetings represents an important link in the chain of continuous cooperation with the African Development Bank, which we aspire to maintain in various fields to enhance efforts towards combating climate change and contribute to the transition into a green economy in Egypt and in Africa.”

The event is a good opportunity for the participating countries to exchange their case studies and their expertise as well as propose innovative financing solutions that catalyze the African development efforts, especially after COVID-19 crisis and the repercussions of the geopolitical tensions. This comes in light of the effective participation of regional and international multi-lateral development financing institutions.

It is the third time for Egypt to host the Annual Meetings of the African Development Bank Group. The previous time was in 1999. Egypt is also the third-largest shareholder in the bank and one of the largest beneficiaries in terms of operations.

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