Egypt’s PM discusses development cooperation with AFESD 

Egypt’s Prime Minister Moustafa Madbouly has held a meeting with a delegation from the Arab Fund for Economic and Social Development (AFESD) to boot cooperation with the fund.

AFESD Chairman Badr Mohammad Al Saad highlighted the importance of Egypt in the fund’s financing portfolio and praised the strong cooperation between the two sides across numerous development projects.

He reiterated the Fund’s commitment to supporting Egypt through financing key development initiatives.

Senior Advisor to the AFESD Director-General Mirza Hassan outlined AFESD’s new financing strategy, focusing on priority sectors including energy, water, transport, education, and health, in line with its mission to promote comprehensive development in member states.

Madbouly affirmed Egypt’s continued implementation of its economic reform programme, particularly in fiscal and monetary policy, including the adoption of a flexible exchange rate regime.

He also reviewed government efforts to boost industrial growth and exports in key sectors such as pharmaceuticals, textiles, information technology, entrepreneurship, food industries, and petrochemicals, especially fertilisers. The prime minister noted the government’s active push for a green transition.

AFESD officials also discussed the Fund’s role in supporting inter-Arab investments and economic cooperation between Arab countries. The meeting concluded with an exchange of views on current regional and global developments and their economic implications.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama