{"id":323417,"date":"2021-09-21T10:34:31","date_gmt":"2021-09-21T10:34:31","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=323417"},"modified":"2021-09-21T11:35:26","modified_gmt":"2021-09-21T11:35:26","slug":"afdb-approves-egypts-hosting-of-its-annual-meetings-in-2023-amer","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/09\/21\/afdb-approves-egypts-hosting-of-its-annual-meetings-in-2023-amer\/","title":{"rendered":"AfDB approves Egypt\u2019s hosting of its annual meetings in 2023, Amer"},"content":{"rendered":"

The board of African Development Bank (AfDB) has unanimously agreed on Egypt\u2019s request to host the bank\u2019s annual meetings on May 22-26, 2023 in the Egyptian Red Sea city of Sharm El Sheikh.<\/p>\n

The step reflects the depth of relations between Egypt and the AfDB, and the international commendation for the country\u2019s unprecedented achievements accomplished during the past few years, particularly with regards to political stability, economic growth, and infrastructure development, Egyptian central bank governor Tarek Amer said in a statement.<\/p>\n

\"Egypt's
Egyptian Central Bank Governor Tarek Amer (Photo Credit: Reuters)<\/figcaption><\/figure>\n

Amer, who is also Governor of Egypt at the AfDB, made the remarks during the bank\u2019s fifty-sixth meeting held virtually.<\/p>\n

Egypt is one of the AfDB\u2019s founding states in the 1960s. Since then, Egypt formed robust strategic partnership with the bank, built on the basis of joint cooperation to achieve the country\u2019s sustainable development strategic goals. This is in addition to enhancing and deepening the internal mutual African cooperation, while providing the necessary funds to finance the continent\u2019s development agenda, backed by the strong Egyptian political leadership that supports this mandate, and through the utilisation of stellar Egyptian expertise in all fields, Amer added.<\/p>\n

Egypt has unprecedently succeeded in meeting and complying with all the AfDB\u2019s required specifications and standards to host the annual meetings, said Ahmed Zayed \u2013 Egypt and Djibouti\u2019s representative in the AfDB\u2019s board of directors.<\/p>\n

.<\/figcaption><\/figure>\n

\u201cThis is considered a testimony to Egypt\u2019s fruitful efforts in developing the domestic infrastructure, while achieving political and economic stability, which has always been recognised by the Bank\u2019s Board of Directors in its meetings, calling Egypt to convey its valuable experience to other African countries.\u201d Zayed noted.<\/p>\n

He also added that Egypt\u2019s success to host the AfDB\u2019s Board of Governors Consultative Committee meetings held in Sharm El Sheikh on September 18, 2019, under the auspices of Tarek Amer, had increased the likelihood of approving its request to host the bank\u2019s annual meetings in 2023.<\/p>\n

During the Board of Governors Consultative Committee 2019 meetings \u2013 led by Amer \u2013 the AfDB Governors successfully concluded the negotiations to increase the bank\u2019s capital base for the seventh time by 125 percent from $93 billion to $205 billion.<\/p>\n

Egypt is Africa\u2019s second biggest shareholder in the AfDB\u2019s capital, and the third on the level of all 81 member states. It is also one of only three African countries, that contributes to the African Development fund, which aims at the development of low-income African countries.<\/p>\n

The aggregate size of the cooperation portfolio between Egypt and AfDB \u2013 since the inception of bilateral developmental cooperation in 1974 \u2013 has reached circa $6.4 billion, and has supported funding a number of major developmental projects in Egypt, in addition to continental connectivity projects.<\/p>\n

With regard to the current portfolio, total funds have averaged $1 billion, utilised in financing 22 projects in both the private and public sectors, and operating in a number of fields and industries, including; energy, transportation, agriculture, water and irrigation, sewage, and entrepreneurship.<\/p>\n","protected":false},"excerpt":{"rendered":"

The board of African Development Bank (AfDB) has unanimously agreed on Egypt\u2019s request to host the bank\u2019s annual meetings on May 22-26, 2023 in the Egyptian Red Sea city of Sharm El Sheikh.<\/p>\n","protected":false},"author":4,"featured_media":320549,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[],"class_list":["post-323417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main"],"yoast_head":"\nAfDB approves Egypt\u2019s hosting of its annual meetings in 2023, Amer - egy-africa<\/title>\n<meta name=\"description\" content=\"Tarek Amer - Governor of the Central Bank of Egypt and Governor of Egypt at the African Development Bank Group - announced that African Development Bank (AfDB) Board of Governors agreed unanimously on the Egyptian request to host the annual meetings of the Bank Group between 22nd to 26th of May, 2023 in Sharm El-Sheikh City.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/09\/21\/afdb-approves-egypts-hosting-of-its-annual-meetings-in-2023-amer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB approves Egypt\u2019s hosting of its annual meetings in 2023, Amer - 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