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Economic development

Egypt and African Development Bank Strengthen Cooperation

Strategic Insights

— 1 min read

President Abdel Fattah El Sisi and African Development Bank Group (AfDB) President Akinwumi Adesina discussed ways to boost cooperation between Egypt and the AfDB, with a focus on enhancing development efforts across Africa. The meeting, attended by Minister of Planning Rania al Mashat, aimed to strengthen ties between Egypt and the bank, with a particular emphasis on areas such as new and renewable energy, infrastructure, and the role of the private sector in development. President Sisi expressed Egypt's appreciation for Adesina's decade-long efforts in strengthening the African Development Bank's role, while Adesina commended Egypt's pivotal role in enhancing the bank's development efforts across Africa.

Key Takeaways:

  • Egypt and the AfDB discussed ways to boost cooperation, particularly in new and renewable energy and infrastructure.
  • The meeting addressed the importance of cultivating closer cooperation in various areas, including the role of the private sector in development and job creation.
  • President Sisi expressed Egypt's continued support for the AfDB, including cooperation with its next president.
  • The two sides emphasized the need to strengthen the role of the private sector in development, job creation, and ensuring food and water security.
  • President Sisi wished Akinwumi Adesina success in his future endeavors and expressed Egypt's appreciation for his decade-long efforts in strengthening the African Development Bank's role.
  • Adesina commended Egypt's pivotal role in enhancing the bank's development efforts across Africa in recent years.
  • The meeting also addressed Egypt's relations with the AfDB and ways to boost them.
  • Both sides stressed the importance of developing manufacturing capabilities and advancing digital transformation.

Statistics:

  • The African Development Bank Group (AfDB) has provided crucial funding to advance development goals across African countries.
  • President Sisi and Adesina discussed ways to boost cooperation between Egypt and the AfDB particularly in new and renewable energy and infrastructure.
  • 10 years: length of time Akinwumi Adesina has been strengthening the African Development Bank's role.

Sources:

  • Middle East News Agency, 12 May 2025
  • Presidential Spokesman Ambassador Mohamed el Shennawy

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