Washington: Minister of Foreign Affairs, International Cooperation, and Egyptian Expatriates Badr Abdelatty affirmed Egypt's keenness to support Arab financial institutions, particularly the Arab Bank for Economic Development in Africa, to advance development efforts across the continent.

According to State Information Service Egypt, this statement was made during Abdelatty's meeting with the bank's President Abdullah Al Musaibeeh in Washington. The meeting, which took place in the presence of Minister of Planning and Economic Development Ahmed Rostom, was held on the sidelines of the Spring Meetings of the International Monetary Fund and the World Bank Group.

The foreign minister expressed Egypt's interest in strengthening cooperation with the bank in the coming period, emphasizing its significant role in financing development projects in African countries. He acknowledged the bank's efforts in supporting economic ties between Arab states and Africa, funding economic development, providing technical assistance, building private sector capacity, and enhancing intra-Arab-African trade.

Abdelatty also highlighted the importance of boosting trade between Egypt and African countries. He emphasized the need for coordination with Egyptian banking institutions and the private sector and called for exploring trilateral cooperation between Egypt, the bank, and African nations to leverage Egypt's development expertise and support joint initiatives.

Moreover, Abdelatty reviewed Egypt's development efforts in South Nile Basin countries, including a financing mechanism for priority infrastructure projects. In response, the bank's president praised Egypt's role in Arab-African cooperation and confirmed that Egypt is a key partner in the bank's development work, noting Egypt's active participation and role in strengthening economic and investment ties across the continent.