Economy / Banking

Egyptian President commends outgoing AfDB president for advancing development across Africa

 

Egyptian President, Abdel-Fattah El-Sisi, and President of the African Development Bank (AfDB) Akinwumi Adesina

 

By Out Correspondent

The Egyptian President, Abdel-Fattah El-Sisi, has commended the outgoing President of the African Development Bank Group (AfDB) Akinwumi Adesina’s efforts to strengthen the bank’s role and provide crucial funding to advance development goals across Africa.

El-Sisi gave the commendation through his spokesman Amb. Mohamed El-Shennawy, at a meeting in Cairo while wishing Adesina success in his future endeavours.

He reaffirmed Egypt’s ongoing support for the AfDB and commitment to cooperating with its next president.

On his part, Adesina expressed appreciation for Egypt’s support and its pivotal role in enhancing the bank’s development efforts across Africa in recent years.

He said the bank and the Egyptian government had discussed ways to enhance Egypt’s relations with it to boost cooperation in various fields,particularly new and renewable energy and infrastructure.

He added that they also emphasised the need to strengthen the private sector’s role in development, job creation, ensuring food and water security, improving energy efficiency and developing manufacturing capabilities among others.

Adesina highlighted the necessity of the AfDB’s continuous support for Egypt’s efforts to achieve growth, development, and economic reform.

The meeting discussed implementing various projects under the national platform for the Nexus of Water, Food, and Energy (NWFE) programme.

NWFE, launched in July 2022, is a national scheme meant to implement the Nationally Determined Contributions (NDCs), a document Egypt recently submitted detailing its commitments to emission targets by 2030.

Adesina, the 8th elected president of AfDB, was first elected in May 2015 by the Bank’s Board of Governors at its annual meetings in Abidjan, Côte d’Ivoire (https;//newsatlarge.ng).

 

 

 

 

 

 

 

 

 

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