Egypt Seeks to Expand Financial Resources for African Nations through International Institutions
Egypt is actively working to expand the financial resources available to African nations through international institutions, with the aim of advancing the 2063 Development Agenda, according to a statement from the Ministry of International Cooperation.
During the 2024 African Caucus meeting in Abuja, Nigeria, Minister Rania Al-Mashat highlighted the importance of the ongoing dialogue between the African Group and the World Bank to strengthen cooperation with one of the largest multilateral development banks. This aims to address the development challenges faced by countries on the continent and advance the implementation of the Development Agenda.
The meeting, organized by the governors of the International Monetary Fund and the World Bank Group, focused on exploring ways to accelerate intra-African trade as a key driver of sustainable economic growth.
During the encounter, she added that Egypt seeks to integrate more deeply with its African counterparts, as outlined in its Vision 2030 plan, and to promote South-South cooperation to share development experiences and best practices.
Recently, South-South cooperation has been gaining more ground among developing countries.
