Egypt, AfDB discuss expanding development financing ties

The governor of the Central Bank of Egypt (CBE) met on Sunday with the president of the African Development Bank (AfDB) to discuss ways to deepen financial and development cooperation, the central bank said.

CBE Governor Hassan Abdalla held talks with AfDB President Sidi Ould Tah during his first official visit to Egypt since taking office in September 2025.

The discussions focused on strengthening the long-standing partnership between Egypt and the AfDB, including financing for strategic development projects and expanding areas of cooperation in support of economic growth.

According to a CBE statement, Abdalla reaffirmed Egypt’s commitment to broadening its engagement with the bank in the coming period, while maintaining close coordination to advance sustainable development objectives and enhance economic integration across Africa.

The two sides also discussed mechanisms to support financial stability and economic reform efforts across the continent, as well as ways to mobilise investment and improve financing tools for priority development projects aimed at strengthening the resilience of African economies.

Egypt maintains close ties with the AfDB, ranking as its second-largest shareholder among regional members and third overall. Total development operations between the two sides have exceeded $8 billion since the start of their partnership, the statement added.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser