Sisi signals Africa's priorities for sustainable finance, stresses 'no development without peace'

CAIRO - 12 May 2026: Egyptian President Abdel Fattah El-Sisi participated Tuesday in a working session dedicated to discussing the reform of the international financial architecture and enhancing African countries' access to sustainable finance.

 

President Sisi delivered Egypt's address to the Africa-France summit taking place in Nairobi, where he outlined Egyptian and African priorities regarding the reform of the global financial system.

 

In his speech, President Sisi said: "Allow me to begin by expressing my sincere gratitude to the government and people of the Republic of Kenya for their warm welcome and generous hospitality. I also express my appreciation to my brother, His Excellency President Ruto, and His Excellency President Macron for initiating this important summit."

 

"I have listened to your valuable contributions, which form the basis for reforming the global financial architecture in a way that addresses the concerns of developing countries and fulfills the aspirations of their people for achieving the desired development," he added.

 

President El-Sisi ensured in his speech that, "There is no development without peace, and no peace without development."

 

He also continued, "It is no secret that the growing geopolitical tensions, including in the Middle East, have repercussions that undermine the stability of international supply chains and negatively impact energy and food security, particularly for our African nations, which are striving to achieve development goals for their people while simultaneously maintaining fiscal discipline and curbing their debt levels."

 

President El-Sisi went on explaining that the turbulent global economic landscape, declining development aid flows, increasing conditionality, and the repercussions of climate change make reforming the international financial system an imperative for achieving peace and development.

 

He further emphasized the need for "a comprehensive vision" that addresses the challenge of financing development by enhancing the effectiveness of existing financing mechanisms and introducing new ones, such as debt-for-development swaps and expanding the issuance of green bonds.  

 

"In this context, I must also mention the necessity of breaking the vicious cycle of the sovereign debt problem, especially in African countries, many of which now spend more on debt servicing than on health and education combined," Sisi added.

 

President Sisi pointed out that in the pursuit of our countries' development goals, it is crucial to encourage exports from developing countries to foreign markets, support growth opportunities for emerging industries in Africa, and cooperate to support the activation of the African Continental Free Trade Agreement by strengthening supply chains between African countries and building the capacities and skills of African youth.

 

President Sisi also stated that despite successive regional and international crises, Egypt has been able to continue its ambitious economic reform program through a comprehensive package of measures to control fiscal and monetary policies, develop the legislative environment, and provide attractive investment incentives, in parallel with developing its infrastructure.

 

'We look forward to strengthening cooperation with France, and all international and regional partners, to continue economic and social development programs in Egypt and African countries," he concluded.