Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egypt to Host Joint Annual Meetings of Arab Financial Entities in NAC on May 22


Mon 13 May 2024 | 01:51 PM
Rania Al-Mashat
Rania Al-Mashat
Nada Mustafa

Hosted by the Arab Republic of Egypt; the joint annual meetings of the Arab financial authorities for the year 2024, which are scheduled to be held in the New Administrative Capital on May 22, are under the patronage of President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, and in the presence of Dr. Mostafa Madbouly, Prime Minister.

 This in light of the Egyptian state’s keenness to support efforts of various Arab financial institutions and bodies to achieve their development mission, support joint Arab action, and enhance development efforts in various Arab countries.

The joint annual meetings of the Arab financial bodies are scheduled to include a meeting of the Board of Governors of the Arab Fund for Economic and Social Development, a meeting of the Board of Shareholders of the Arab Corporation for the Guarantee of Investment and Export Credit, a meeting of the Board of Governors of the Arab Monetary Fund, a meeting of the Board of Governors of the Arab Bank for Economic Development in Africa, and a meeting of the Board of Governors of the Arab Bank for Economic and Social Development, the Arab Authority for Agricultural Investment and Development, the meeting of the Council of Arab Finance Ministers, and the distribution ceremony of the Sheikh Abdul Latif Yousef Al-Hamad Development Award in the Arab World.

In this regard, Al-Mashat expressed her pride in the Arab Republic of Egypt for hosting the joint annual meetings of Arab financial institutions, for the first time, welcoming the heads and officials of Arab financial institutions in their second country, Egypt, and the Arab Ministers of Finance and Economy, and the Governors of Central Banks. Arab, and officials of participating regional and international institutions.

Al-Mashat said that these meetings are held under the patronage of H.E. President Abdel Fattah El-Sisi, reflects the Egyptian state’s keenness to provide support for all efforts aimed at enhancing cooperation and joint Arab action, and to provide the facilities required for the meetings to emerge in the best possible way and in a way that befits the organization. The Arab Republic of Egypt hopes that these meetings will produce outcomes that enhance the efforts made by Arab financial institutions, and work to coordinate visions to support the efforts of Arab countries in achieving sustainable development.

Al-Mashat indicated that Arab financial institutions and funds are a major partner of the government in advancing development efforts, explaining that there is integration between Arab financial institutions and international development partners in order to strengthen the financing mechanisms and technical support available to different countries.

These meetings are a unified platform for Arab financial institutions to discuss the most prominent financial, economic, and development issues and topics at the regional and global levels, and through them to evaluate the measures and steps achieved in order to support development in the Arab world, and discuss future plans in light of joint efforts to achieve sustainable development goals, and discuss development challenges, and strengthening regional partnerships between Arab economies.

It also represents a basic channel for conducting bilateral and multilateral discussions between the Arab ministers of finance and economy who represent their countries, the heads of the boards of directors of Arab financial bodies, the governors of Arab central banks, and the directors of Arab financial institutions, as well as the participation of representatives from the International Monetary Fund, the World Bank Group, the Islamic Development Bank, as well as some experts and specialists in the financial and economic fields.

Over the past years, these meetings have witnessed great interest in the attendance and participation of decision makers in the Arab region, especially since they are considered a pioneering Arab platform during which the most prominent financial and economic topics are discussed and future achievements, plans and strategies in the areas of sustainable development on the regional and international arenas and their impact on Arab economies are evaluated.