The African Development Bank (AfDB)’s executive council is to discuss the bank’s country strategy agreement with Egypt by mid-November this year, official banking sources told Amwal Al Ghad Monday.
AfDB’s country strategy agreement with Egypt will cover the period from 2015 until 2020.
The 2015-2020 AfDB’s strategy for Egypt is to focus on support for sectors of high priority in Egypt i.e. energy, water, agriculture, transport, environment, and climate change in addition to private sector development, the source added.
The design of the assistance strategy is underpinned by the country’s vision 2030.
The objective of the Bank’s strategy for the country during the period is the modernization of infrastructure and fostering employment-creating economic growth.
The agreement will include means of technical and financial cooperation between Egypt and AfDB.
Egypt is the AfDB’s second-largest African shareholder, which accounts for 5.4% of its regional member countries’ share capital.
