Egypt's Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, met with Jalel Trabelsi, the Special Envoy appointed by the President of the African Development Bank (AfDB) for the Middle East and North Africa (MENA) and Gulf Region, to discuss joint cooperation initiatives. The Wednesday meeting, which also included Abdourahmane Diaw, AfDB Country Manager for Egypt, was part of Trabelsi's first tour of the region since assuming his duties. Al-Mashat and Trabelsi discussed the long-standing partnership between Egypt and the AfDB, which began in 1974. The bank's development cooperation portfolio with Egypt has grown steadily, reaching a total value of about $7.79bn. The meeting also explored the Egyptian government's recent efforts to overcome the global economic challenges of the past three years. Al-Mashat briefed Trabelsi on the new government programme announced in July 2024, which aims to enhance macroeconomic stability, support structural reforms to stimulate the private sector and build a competitive economy that attracts investment. She highlighted the government's commitment to completing infrastructure and services projects, mitigating the impact of global economic conditions, and addressing challenges arising from regional conflicts. Trabelsi praised Egypt's role in promoting regional integration on the continent, taking key steps to enhance trade and investment. He recognised Egypt's influence in the region and its effective role in resolving regional crises. The Minister explained Egypt's commitment to enhancing South-South and Triangular Cooperation, noting that the Ministry launched its strategy for this cooperation in May 2023, in partnership with the United Nations Development Programme (UNDP), on the sidelines of the annual meetings of the AfDB in Sharm El Sheikh. The meeting discussed the bank's involvement in supporting this framework, strengthening its activities, and achieving its objectives. Al-Mashat emphasised Egypt's regular contributions to the financial renewals of the AfDB's resources since 2010, as a regional donor country. She noted Egypt's support for the efforts of the least developed African countries during the last five general renewals, from the 12th to the 16th. The Minister also highlighted the potential for the bank to support the private sector in Egypt and ways of cooperation with the Hub for Advisory, Finance & Investment for Enterprises platform.
