Tomorrow, the activities of the annual meetings of the African Development Bank Group will begin in Sharm El-Sheikh from May 22 to 26, under the slogan “Mobilizing Private Sector Financing for Climate and Green Growth in Africa”, with the presence of about 4,000 participants, led by state governors. Members are from eighty-one countries, including finance ministers and central bank governors.
Hassan Abdullah, Governor of the Central Bank of Egypt and Chairman of the Board of Governors of the African Development Bank Group said: I am pleased to welcome all of you to the annual meetings of the African Development Bank for 2023. to ensure the success of this important event.
He added in a welcome message broadcast by the African Development Bank: “After Egypt’s success in hosting COP27, in addition to other major events including the annual meetings of the Islamic Development Bank for the year 2022, I am confident that the annual meetings of the African Development Bank 2023 in Sharm El-Sheikh will be an exceptional event.
Abdullah stressed that Egypt’s hosting of the annual meetings for this year confirms the state’s firm determination to support integration between the countries and institutions of the African continent and its development through permanent and continuous cooperation with development partners, led by the African Development Bank Group, expressing his deep appreciation for the management and team of the bank responsible for Annual Meetings for their great efforts and their choice of theme for this year on Mobilizing Private Sector Finance for Climate and Green Growth.
He pointed out that it is one of the most urgent issues for all countries of the world in general and African countries in particular, as climate changes contribute to some negative repercussions, especially on food security, increasing population displacement, and increasing pressure on water resources in the continent.
He added: We are all aware that the current level of climate financing on the continent needs more resources, as total flows cover only 12% of the required financing, and it is critical to make available additional resources to build economies that can face climate change.
And the governor of the Central Bank continued: “Accordingly, there is an urgent call to stimulate the private sector to play a more effective role in green growth and sustainable development in all its aspects within the continent.” Confronting the risks of climate change.
Next Monday, the activities of the annual meetings of the African Development Bank Group will begin in Sharm El-Sheikh from May 22 to 26, 2023, under the slogan “Mobilizing Private Sector Financing for Climate and Green Growth in Africa”, with the presence of about 4,000 participants, led by state governors. Members are from eighty-one countries, including finance ministers and central bank governors.
Hassan Abdullah, Governor of the Central Bank of Egypt and Chairman of the Board of Governors of the African Development Bank Group said: I am pleased to welcome all of you to the annual meetings of the African Development Bank for the year 2023. to ensure the success of this important event.
He added in a welcome message broadcast by the African Development Bank: “After Egypt’s success in hosting COP27, in addition to other major events including the annual meetings of the Islamic Development Bank for the year 2022, I am confident that the annual meetings of the African Development Bank 2023 in Sharm El-Sheikh will be an exceptional event.
Abdullah stressed that Egypt’s hosting of the annual meetings for this year confirms the state’s firm determination to support integration between the countries and institutions of the African continent and its development through permanent and continuous cooperation with development partners, led by the African Development Bank Group, expressing his deep appreciation for the management and team of the bank responsible for Annual Meetings for their great efforts and their choice of theme for this year on Mobilizing Private Sector Finance for Climate and Green Growth.
He pointed out that it is one of the most urgent issues for all countries of the world in general and African countries in particular, as climate changes contribute to some negative repercussions, especially on food security, increasing population displacement, and increasing pressure on water resources in the continent.
He added: We are all aware that the current level of climate financing on the continent needs more resources, as total flows cover only 12% of the required financing, and it is critical to make available additional resources to build economies that can face climate change.
The governor of the Central Bank continued: Accordingly, there is an urgent call to stimulate the private sector to play a more effective role in green growth and sustainable development in all its aspects within the continent confronting the risks of climate change.
The governor praised the vital role of multilateral development institutions, in particular, the African Development Bank as a key player in African development, through its active efforts in all fields, foremost of which is mobilizing the necessary financing and enhancing the participation of private capital in the economies of the countries of the continent.
The Central Bank Governor noted that Egypt organized two side events during the upcoming meetings to discuss the mobilization of blended financing to facilitate green transformation in emerging economies and the role of FinTech in launching sustainable and green financing.
It is worth noting that this is the third time that the Arab Republic of Egypt hosts the annual meetings of the African Development Bank Group, the last of which was in 1999. Egypt is also the third largest shareholder of the bank and one of the largest countries benefiting from its development operations in the African continent.
