Egypt is set to host the esteemed joint annual meetings of Arab financial entities in the New Administrative Capital on 22 May. The event, patronized by President Abdel Fattah Al-Sisi and attended by Prime Minister Mostafa Madbouly, underscores Egypt’s commitment to bolstering the collaborative efforts of Arab financial institutions towards regional development.
The agenda includes sessions of the Board of Governors from various Arab financial organizations, such as the Arab Fund for Economic and Social Development, the Arab Corporation for the Guarantee of Investment and Export Credit, and the Arab Monetary Fund. Additionally, the Arab Bank for Economic Development in Africa, the Arab Bank for Economic and Social Development, and the Arab Authority for Agricultural Investment and Development will convene. The Council of Arab Finance Ministers will also meet, culminating in the presentation of the Sheikh Abdul Latif Yousef Al-Hamad Development Award.
Minister of International Cooperation Rania Al-Mashat expressed her honour in welcoming the heads and officials of Arab financial institutions to Egypt. She highlighted the meetings as a reflection of Egypt’s dedication to fostering Arab cooperation and ensuring the summit’s success.
Al-Mashat emphasized the integral role of Arab financial bodies in partnering with the government to propel development initiatives. She noted the synergy between these institutions and global development partners in enhancing financial and technical support across nations.
The summit serves as a pivotal platform for discussing key financial, economic, and developmental matters at both regional and international levels. It aims to assess progress in supporting Arab development, strategize on sustainable development goals, and address developmental challenges while fortifying regional partnerships among Arab economies.
The meetings have historically attracted significant participation from Arab decision-makers, establishing themselves as a leading forum for deliberating on financial and economic issues, assessing sustainable development strategies, and their implications for Arab economies.