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