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Samir meets AfDB head for cooperation talks at COP27
14 November 2022  -  Sector :  -  Entity :  -  Category : Industry News

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The meeting has discussed the African Development Bank’s facilities in developing Egypt’s industrial, agricultural and pharmaceutical sectors. 

Sharm el-Sheikh- Nov 14, 2022

Minister of Trade and Industry Ahmed Samir has met with Akinwumi Adesina, president of the African Development Bank (AfDB), on the sidelines of COP27 currently held in Sharm el-Sheikh, to review the bank’s projects and future plans in Egypt.

The meeting discussed the AfDB’s $1.5 billion African Emergency Food Production Facility, established in May to boost food security and self-sufficiency across the continent, providing 20 million African smallholder farmers with certified seeds and increased access to agricultural fertilizers.

“The government is keen on benefiting from the bank’s mechanisms and facilities to develop Egypt’s industrial, agricultural, agro-food and pharmaceutical sectors, which would contribute to inclusive and sustainable development and boost the economy,” Samir said.

The two sides also discussed the AfDB’s desire to establish integrated agricultural industrial zones in Egypt, as well as cooperation in deepening the country’s pharmaceutical industry and boosting exports to the Dark Continent.

Adesina, for his part, invited the minister to participate in the next round of the Africa Investment Forum, the continent’s premier investment platform held annually since 2018, which brings together several African heads of state and government and top financing organizations.

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