The Egyptian delegation, led by Hassan Abdullah, the Governor of the Central Bank of Egypt (CBE) and the Governor of Egypt at the African Development Bank Group (AfDB), along with Rania Al-Mashat, the Minister of International Cooperation (MoIC) and Alternate Governor of Egypt at AfDB, actively participated in the 59th session of the AfDB annual meetings.
The meetings occurred in Nairobi, the capital of Kenya, from May 27 to 31. The delegation from Egypt participated in the meetings as a demonstration of its dedication to fostering collaboration with African nations and bolstering ties with significant development partners.
According to Egypt Today website over the past decades, the partnership between Egypt and the African Development Bank (AfDB) has yielded a significant portfolio of approximately $7 billion since 1974. In terms of financial support, Egypt ranks as the third largest contributor to the AfDB’s capital among the 81 member states. Additionally, it stands as one of the six African nations that contribute to the African Development Fund.
During the recent meetings, al-Mashat engaged in a productive discussion with Andrew Mitchell, the British Minister for International Development. The purpose of this meeting was to explore potential areas of collaboration between Egypt and the UK in the fields of agriculture and food security.
The meeting had the objective of enhancing coordination in the implementation of the NWFE program to support Egypt’s energy security and climate action initiatives. The British delegation generously offered a grant of $7 million to bolster these efforts.
During the meeting, Al-Mashat and the British representatives deliberated on collaborating to execute the development policy financing program and examined potential engagement with the British Export Credit Agency (UKEF).
