AfDB approves establishment of African Pharmaceutical Technology Foundation to boost sector's industry

Mon, 27 Jun 2022 - 04:13 GMT

The AfDB clarified that the new foundation will significantly enhance Africa’s access to the technologies that underpin the manufacture of medicines, vaccines, and other pharmaceutical products.

AfDB: Egyptian govt works on engaging private sector in climate projects

Mon, 11 Apr 2022 - 02:36 GMT

Ahead of COP27, Egypt is preparing a guidebook to help governments, multilateral development banks and the private sector engage in the mobilization of climate finance, the bank added.

Electricity min., AfDB discuss fostering renewable energy cooperation

Wed, 16 Mar 2022 - 06:05 GMT

Shaker said the Egyptian electricity sector has succeeded in completing many projects and programs in cooperation with the bank.

Egypt, AfDB harness regional climate action, south-south Cooperation through innovative climate finance

Tue, 15 Mar 2022 - 03:20 GMT

The Minister of International Cooperation, Rania A. Al-Mashat, held a high-level meeting with a delegation led by the Vice-President of the African Development Bank (AfDB), Kevin Kariuki, to harness South-South cooperation and enhance regional climate change action through innovative climate financing.

African Development Bank delegation in Egypt to ensure success of COP27

Mon, 14 Mar 2022 - 06:30 GMT

COP 27 is scheduled for November 2022 in the coastal city of Sharm El Sheikh.

Egypt, AfDB prepare for 2022-2026 country strategy in Presence of 17 national entities

Sun, 10 Oct 2021 - 01:55 GMT

This took place with the participation of the AfDB’s Executive Director for Egypt and Djibouti, Ahmed Zayed; the African Development Bank’s (AfDB) Deputy Regional Director for North Africa and Country Manager for Egypt, Malinne Blomberg; and officials from the Ministry of International Cooperation.

AfDB approves Egypt’s hosting of its annual meetings in 2023

Tue, 21 Sep 2021 - 04:50 GMT

Tarek Amer affirmed in a statement that Egypt's aspiration to host these important meetings, praising the historical relationship between Egypt and the African Development Bank, as Egypt is one of its founding countries in the 1960s.

‘We want Africa’s free trade area to be industrial zone not consumption zone’: AfDB official

Sun, 13 Jun 2021 - 11:25 GMT

That was in IPAs Africa Forum 1 held in Sharm El Sheikh on June 11-14.

Egypt signs agreement with AfDB worth €145M to advance railway system

Sun, 23 May 2021 - 03:13 GMT

The agreement comes with the aim of improving efficiency and safety factors in the railway system by extending the authority's main lines (Alexandria / Cairo / Assiut / Naga Hammadi and Benha / Port Said line) with 953 km controlled by the European Train Control System (ETCS-L1) to manage the course of the cars.

Multi-stakeholder platforms help in exploring opportunities for int'l partnerships in petroleum sector: Al-Mashat

Sun, 09 May 2021 - 04:13 GMT

"The oil and gas sector development strategy has led to the signing of 98 international agreements with a minimum investment of $16 billion,” Tarek el-Molla commented.

Ongoing cooperation portfolio bet. Egypt, AfDB records $640.8M

Thu, 04 Mar 2021 - 10:23 GMT

The portfolio covers various development sectors such as electricity, health, research, entrepreneurship, budget support, and water and sanitation.

Egypt, AfDB signs development financing deal worth €109M

Thu, 04 Mar 2021 - 10:07 GMT

The AfDB will provide Egypt with €108 million alongside a €1 million grant through the project under implementation so that 22 thousand homes in Luxor will benefit.

Egypt's EAPD, AfDB discuss proposed fields of bilateral cooperation

Thu, 26 Nov 2020 - 02:27 GMT

During the meeting, the two sides also probed funding priorities in various development sectors in African states, especially those related to food security, agricultural projects, new and renewable energy, in addition to health.

Sisi approves increasing Egypt's subscription in AfDB's capital

Thu, 09 Jul 2020 - 10:15 GMT

The decision was regarding the allocation of shares in the capital of the African Development Bank.

AfDB approves €225 million loan to finance Egypt’s Electricity, Green Growth Support Program

Wed, 17 Jun 2020 - 05:37 GMT

The project would help meet the Government’s financing requirements, expand social expenditures to mitigate the socio-economic impact of the pandemic.

AfDB probes offering additional funding to help Egypt cushion COVID-19 impacts: official

Fri, 05 Jun 2020 - 09:53 GMT

Blomberg noted that an agreement would soon be signed with the Egyptian government on emergency grant funding worth $500,000 for the categories harmed by COVID-19.

Egypt discusses private sector role with int’l financial institutions

Thu, 30 Apr 2020 - 01:52 GMT

The meeting was attended by officials from World Bank (WB), IFC, European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD) and African Development Bank (AfDB).

AfDB supports its members, including Egypt, by $3M-bond

Tue, 07 Apr 2020 - 12:03 GMT

Bloomberg added that this step will entail enhancing communication between stakeholders at the government, private sector and civil society levels to provide joint ownership.

AfDB expects Egyptian growth rate to up to 5.8% in 2020, 6% in 2021

Tue, 04 Feb 2020 - 09:40 GMT

In a report on African economic outlook 2020, the bank attributed this rise to the economic reform measures adopted by Egypt since 2016.

AfDB shareholders approve landmark $115 billion capital increase

Sat, 02 Nov 2019 - 09:56 GMT

The boost in capital ensures that the Bank will continue to maintain a sterling AAA rating, all stable, from the top rating agencies.