Egypt looks forward to expanding cooperation with ADB

Egyptian President Abdel Fattah El Sisi voiced Egypt's appreciation for current cooperation with the African Development Bank, praising the development projects which are being funded by the bank in the African continent.

This came during Sisi's meeting with President of the African Development Bank (ADB) Akinwumi Adesina here on Sunday.

During the meeting, Sisi said Egypt is looking forward to enlarge fields of cooperation with the ADB and explore more programs and projects to be carried out by the bank in Egypt, said Presidential Spokesman Ambassador Alaa Youssef.

The ADB president, for his part, said the Bank is willing to bolster relations with Egypt and its financial foundations, praising the recent economic reforms introduced by the Egypt government that helped flourish the Egyptian economy, rise in growth rates as well as increase direct foreign investments.

He also welcomed the election of Egypt's House of Representatives and the efforts exerted by Egypt to help restore its economic growth.

Adesina also reviewed the bank's plan for projects and programs to be implemented in the coming ten years, noting that the bank is seeking to enlarge its activities in Egypt and work with the government to carry out more development projects that could help provide more job opportunities.

He also said the bank will assess its contribution to a set of projects pinpointed by the Egyptian president.

Meanwhile, Adesina said the Bank could play a key role in implementing the African initiative on renewable energy that was floated by President Sisi during the Paris Climate Change summit, praising the efforts exerted by Sisi as chief of the African heads of state and governments committee on climate change.