The Arab Republic of Egypt will host the joint annual meetings of the Arab financial authorities in the New Administrative Capital on May 22, 2024. President Abdel Fattah El-Sisi will patron the meetings, which will be attended by Dr. Mostafa Madbouly, the Prime Minister.
The Egyptian government is committed to supporting the development mission of various Arab financial institutions and bodies, fostering joint Arab action, and enhancing development efforts in various Arab countries.
The joint annual meetings will include the Board of Governors of the Arab Fund for Economic and Social Development, the Board of Shareholders of the Arab Corporation for the Guarantee of Investment and Export Credit, the Board of Governors of the Arab Monetary Fund, the Board of Governors of the Arab Bank for Economic Development in Africa, the Board of Governors of the Arab Bank for Economic and Social Development, the Arab Authority for Agricultural Investment and Development, the Council of Arab Finance Ministers and the distribution ceremony of the Sheikh Abdul Latif Yousef Al-Hamad Development Award in the Arab World.
Al-Mashat, with a sense of profound pride, announced Egypt’s historic role in hosting the joint annual meetings of Arab financial institutions for the first time. This prestigious event welcomed esteemed officials from Arab financial institutions, Arab Ministers of Finance and Economy, and Governors of Central Banks, along with representatives from participating regional and international institutions.
These meetings, held under the patronage of H.E. President Abdel Fattah El-Sisi, reflect Egypt’s keenness to support all efforts to enhance cooperation and joint Arab action.
The Egyptian state has provided the necessary facilities for the meetings to emerge in the best possible way that befits the organization. Egypt hopes that these meetings will produce outcomes that enhance the efforts made by Arab financial institutions and work to coordinate visions to support the efforts of Arab countries in achieving sustainable development.
Al-Mashat has stated that Arab financial institutions and funds play a significant role in advancing development efforts alongside the government. He explains that Arab financial institutions collaborate with international development partners to strengthen financing mechanisms and technical support available to different countries.
These meetings, serving as a unified platform, foster discussions on prominent financial, economic, and development issues at local and global levels. They critically evaluate the measures and steps taken to support development in the Arab world, and strategize future plans in joint efforts to achieve sustainable development goals. The discussions revolve around development challenges and the strengthening of regional partnerships between Arab economies, emphasizing the spirit of collaboration and shared goals.
These meetings also provide a basic channel for conducting bilateral and multilateral discussions between Arab ministers of finance and economy, who represent their countries, the heads of the boards of directors of Arab financial bodies, the governors of Arab central banks, directors of Arab financial institutions, and representatives from the International Monetary Fund, the World Bank Group, the Islamic Development Bank, as well as some experts and specialists in financial and economic fields.
Over the past years, these meetings have not only garnered much attention but have also significantly influenced the decisions of key stakeholders in the Arab region. They are considered a pioneering Arab platform to discuss the most prominent financial and economic topics, evaluating future achievements, plans, and strategies in sustainable development on regional and international arenas and their profound impact on Arab economies.
