On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt’s crucial role in advancing the continent’s regional integration agenda and fostering trade and investment.

While meeting with Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and Abdourahmane Diaw, AfDB Country Manager, the officials explored recent efforts by the Egyptian government to navigate the complex global economic landscape encountered over the past three years.

According to a ministry statement, discussions centered on the longstanding partnership between Egypt and the AfDB, which dates back to 1974, with the bank’s development cooperation portfolio in Egypt now valued at approximately $7.79 billion.

Al-Mashat highlighted a new government initiative announced in July 2024 at bolstering macroeconomic stability and facilitating structural reforms that stimulate the private sector.

This program seeks to invigo
rate the private sector and create a competitive economy attractive to investors while advancing essential infrastructure and services projects, she explained, and addresses the repercussions of ongoing global economic conditions and challenges from regional conflicts.

Trabelsi commended Egypt’s influence in addressing regional crises and its proactive measures to enhance trade and investment across Africa, acknowledging Egypt’s vital contributions to stability on the continent.

The Minister reiterated Egypt’s ongoing contributions to the AfDB’s financial resources since 2010, emphasizing its position as a regional donor in the last five resource renewals.

She also discussed the bank’s potential support for Egypt’s private sector and opportunities for collaboration through the Hub for Advisory, Finance and Investment for Enterprises platform.

Source: State Information Service Egypt