Egypt’s Minister of Planning, Rania Al-Mashat, recently met with Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB) for the Middle East and North Africa (MENA) and Gulf Region. This meeting, held on Wednesday, also received Abdourahmane Diaw, the AfDB Country Manager for Egypt, marking Trabelsi’s first tour of the region since assuming his role.
During the meeting, Al-Mashat and Trabelsi discussed the longstanding partnership between Egypt and the AfDB, which has flourished since its inception in 1974. The development cooperation portfolio between the bank and Egypt has steadily grown, now valued at approximately $7.79 billion. This collaboration underscores the importance of joint efforts in addressing economic challenges and fostering sustainable growth in the region.
Addressing Economic Challenges
Al-Mashat briefed Trabelsi on the Egyptian government’s new program, announced in July 2024, aimed at enhancing macroeconomic stability and stimulating private sector growth. The Minister highlighted ongoing infrastructure projects designed to mitigate the effects of global economic fluctuations and tackle challenges posed by regional conflicts.
Promoting Regional Integration
Trabelsi commended Egypt’s proactive role in promoting regional integration and enhancing trade and investment across the continent. He recognized Egypt’s influential position in addressing regional crises, reaffirming the country’s commitment to stability and cooperation within MENA.
Advancing South-South Cooperation
The meeting also focused on Egypt’s strategy for South-South and Triangular Cooperation, launched in May 2023 in partnership with the United Nations Development Programme (UNDP). Al-Mashat emphasized the AfDB’s potential involvement in strengthening these initiatives and achieving their objectives, promoting sustainable development across the region.
Support for Least Developed Countries
Al-Mashat reiterated Egypt’s commitment as a regional donor, highlighting its consistent contributions to the AfDB’s financial renewals since 2010. She pointed out the country’s support for the least developed African nations during the last five general renewals, underscoring Egypt’s dedication to fostering development across the continent.
Future Cooperation
The discussion concluded with a focus on the potential for AfDB to support Egypt’s private sector. Al-Mashat mentioned the Hub for Advisory, Finance & Investment for Enterprises platform as a key area for future collaboration, aiming to stimulate economic growth and attract further investment.
