Cairo: Egypt has been re-elected to the Board of Directors of the Arab Bank for Economic Development in Africa (BADEA) for the term 2026-2029, and will assume the chairmanship of the board in 2027. The decision came during the bank's 50th annual meeting of the Board of Governors, held virtually on Monday, May 4, 2026, as part of joint Arab financial institutions' sessions. Foreign Minister Badr Abdelatty participated in the meeting in his capacity as Egypt's governor at the bank.

According to State Information Service Egypt, Abdelatty stated that the re-election reflects the confidence of Arab states in Egypt's leadership and its ability to strengthen mechanisms of joint Arab action. He highlighted Egypt's pride in hosting BADEA meetings in 2024 and reaffirmed continued support through its membership in both the Board of Governors and the Board of Directors, aiming to deepen cooperation and promote stability and prosperity across Africa.

The minister praised BADEA's role in financing development projects in African countries and in boosting Arab-African economic ties through technical support, private sector capacity-building, and trade financing. He also expressed Egypt's commitment to enhancing intra-African trade in coordination with Egyptian banking institutions and with active participation in related initiatives.