Egypt and the African Development Bank Map New Investments Until 2033
The discussions addressed the preparation of the North Africa regional integration strategy.
Written by: Mohammed Omran
Dr. Samar Al-Ahdal, Deputy Minister of Foreign Affairs and International Cooperation and Egyptians Abroad, received a high-level delegation from African Bank for development, headed by Abdoulaye Diaw, the Resident Representative of the Bank's office in Cairo.
Egypt and the African Development Bank Map New Investments Until 2033
The Deputy Minister affirmed pride in the extended strategic partnership with the African Development Bank, and the growing momentum in the cooperation relations between the two sides, reflecting the convergence of the bank's priorities with the Egyptian state's priorities in achieving sustainable economic and social development.
The discussions addressed the preparation of the North Africa regional integration strategy.
The meeting discussed frameworks for cooperation in the upcoming phase, primarily launching preliminary consultations to prepare the Bank's new regional integration strategy in North Africa for the period (2027-2033). This is in light of the current strategy's nearing end by the close of 2026, and aims to formulate a cooperation framework that enhances regional integration efforts and supports shared development priorities.
The two sides reviewed the tangible results achieved within the framework of the existing cooperation, especially in the areas of development financing, mobilizing investments, supporting the general budget, enhancing governance, agricultural development, and infrastructure development, reflecting the depth of the partnership between Egypt and the Bank.
The two parties agreed that the preparation of the new strategy represents an opportunity to enhance cooperation in the areas of capital mobilization through blended financing mechanisms, expanding private sector participation, and leveraging innovative financing tools, all of which support the implementation of priority development and investment projects, especially in the industry, transport, and cross-border regional projects sectors.
Dr. Samar Al-Ahdal affirmed the Egyptian government's keenness to continue strengthening cooperation with the Bank and benefiting from its technical and financial expertise, in a way that supports national development efforts and enhances cooperation with African countries in various areas of mutual interest.
African Development Bank Commends Barro's Economic Achievements and Affirms Continued Support
In a separate context, the President of the African Development Bank, Dr. Akinwumi Adesina, praised Gambian President Adama Barrow for The Gambia's strong macroeconomic performance, especially in the areas of economic growth, domestic resource mobilization, and ongoing reforms in state-owned enterprises and the public procurement system.
This came during a meeting held today at the Presidential Palace, where President Adama Barrow received a delegation from the African Development Bank to learn about the bank's latest developments. Barrow described the visit as a reflection of the bank's confidence in his government, expressing optimism for strengthening the partnership between the two sides.
