The inauguration of the 2023 Annual Meetings of the AFDB group in Sharm El Sheikh

H.E. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, privileged today the 2023 Annual Meetings of the African Development Bank Group with his presence. This year’s annual meetings are hosted by Egypt, represented by the Central Bank of Egypt, in the city of Sharm El-Sheikh from May 22 to May 26 2023, under the theme " Mobilizing Private Sector Financing for Climate and Green Growth in Africa".

The opening ceremony witnessed the presence of a number of Heads of African states and regional institutions, including H.E. Mr. Azali Assoumani, President of the Union of Comoros and Chairperson of the African Union, H.E. Mr. Emmerson Mnangagwa, President of Zimbabwe, and Mr. Moussa Faki, Chairperson of the African Union Commission. In addition to the attendance of distinguished guests including Prime Ministers, Ministers of Finance, Governors of Central Banks, private sector representatives, academics, and development partners from 81 regional and non-regional member countries of the African Development Bank Group.

At the outset of the Opening Ceremony, H.E. President Abdel Fattah El-Sisi welcomed the Heads of States, Heads of delegations, and representatives of regional and international institutions participating in the meetings. H.E.  expressed his appreciation for the vital role of the African Development Bank in supporting developmental efforts in Africa, especially in light of the growing economic disruptions that have overtaken  international scene.

H.E. President Abdel Fattah El-Sisi emphasized that Egypt continues to support efforts to achieve economic development for African countries, both regionally and internationally. H.E. called on the participants to take advantage of these meetings to set a clear agenda of funding priorities for Africa to address the impact of climate change and the transition towards a green economy, in alignment  with the outcomes of the United Nations Climate Summit COP27 hosted by Egypt last year.

H.E. Mr. Hassan Abdalla, Governor of the Central Bank of Egypt and Chairperson of the Boards of Governors of the African Development Bank Group, stated that "Given the challenges facing the budgets of most African countries,  it is necessary to encourage the private sector to direct more investments towards environmentally- friendly projects, shift from debt-based investments to actual capital investments and enhance the partnership between the public and private sectors."

The opening session also included speeches by H.E. Mr. Azali Assoumani, President of the Union of Comoros and Chairperson of the African Union, Mr. Moussa Faki, Chairperson of the African Union Commission, and Professor Vincent Nmehielle, Secretary General of the African Development Bank Group. Following the Opening Ceremony, a high-level presidential dialogue on the structure of the global financial system and the role of multilateral development institutions in mobilizing private sector financing to adapt to climate change and achieve green growth in Africa took place.