Governor of the Central Bank of Egypt (CBE) and Egypt’s Governor to the African Development Bank (AfDB) Group Hassan Abdullah led Egypt’s delegation to the 59th Annual Meeting of the AfDB Board of Governors in Nairobi, Kenya, on May 27-31.

Also, the 50th Meeting of the Board of Governors of the African Development Fund will take place at the Kenyatta International Conference Center in Nairobi, Kenya from 27–31 May 2024.

The delegation groups International Cooperation Minister Rania el Mashat and CBE Deputy Governor Tareq el Kholi.

In a joint statement, the CBE and the International Cooperation Ministry said that the Egyptian delegation’s participation in the meeting falls within the framework of boosting cooperation with the African countries and the joint relations with the main development partners.

The meetings of the group are a good opportunity to discuss current economic issues and exchange expertise and proposals to support the development efforts in Africa, according to the statement.

Meanwhile, Abdullah lauded the pivotal role of the AfDB to serve the developmental priorities of Africa.

Abdullah stressed the importance of attracting private capital to reduce the economic risks in Africa.

Mashat, for her part, underlined the importance of these meetings to increase the capital, focus on the tools available for the governments and expand the umbrella of cooperation with the private sector through effective tools to minimize risks and reduce the cost of credit.