Al-Sisi Reaffirms Egypt's Support For African Development Bank

(MENAFN- Daily News Egypt) Egyptian President Abdel Fattah Al-Sisi reaffirmed Egypt's full support for the African Development Bank Group (AfDB), stressing its crucial role in financing development and infrastructure projects across Africa amid growing economic and geopolitical challenges.

In a statement, Egypt's presidency said Al-Sisi met with African Development Bank Group President Sidi Ould Tah to discuss ways to strengthen strategic cooperation between Egypt and the institution.

Al-Sisi highlighted the importance of the Bank and the African Development Fund in mobilizing financial resources and technical support for African nations facing mounting development pressures.

Ould Tah praised Egypt's economic reforms over the past decade, noting that the country's experience could serve as a model for other African economies.

The discussions also covered preparations for the new Egypt–Country Partnership Strategy for 2027–2031, with emphasis on aligning it with Egypt Vision 2030 and national development priorities.

Al-Sisi stressed the importance of expanding private sector participation in sustainable development while supporting major regional infrastructure and cross-border projects that promote African economic integration.

He said Egyptian companies are ready to contribute their expertise to large-scale development initiatives across the continent and called for stronger efforts to mobilize financing for such projects.

The meeting also addressed Egypt's preparations to host the inaugural African Business Forum in El Alamein in June 2026.

According to the presidency, the forum aims to strengthen investment opportunities and economic cooperation across Africa.

Both sides reaffirmed their commitment to continued coordination and cooperation to advance sustainable development throughout the continent.

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