Arab Finance: Egypt’s Sharm El-Sheikh will host the 2023 annual meetings of the African Development Bank (AfDB) from May 22nd to 26th, according to a statement by the Central Bank of Egypt (CBE) on February 8th.

This came during a meeting headed by the CBE’s Governor Hassan Abdalla in the presence of the AfDB’s Secretary General Vincent Nmehielle to review the ongoing preparations for the bank’s annual meetings in Egypt this year.

"Egypt's hosting of the 2023 annual meetings of AfDB in Sharm El-Sheikh reflects the political leadership's keenness to strengthen and deepen cooperation with African brothers in all fields,” Abdalla said.

“Through my follow-up on the ongoing preparations, and my presidency of the Board of Governors of AfDB, I can confirm that this edition of the meetings will be distinguished, thanks to the attention to detail and continuous coordination at the highest levels between the Egyptian side and AfDB,” he added.

Egypt has been a founding member of the African Development Bank Group since 1964 and is one of the largest regional member country shareholders.

AfDB’s cumulative investments in Egypt amount to close to $7 billion, with an active portfolio of $1.4 billion, according to the bank’s website

Egypt’s online, mobile banking transactions hit EGP 11.7T in 2024: CBE Updated 11/19/2025 11:05:00 AM

Remittances from Egyptians abroad leap to $30.2B in 9 months Updated 11/17/2025 2:35:00 PM

Egypt’s annual core inflation up to 12.1% in October: CBE Updated 11/10/2025 3:49:00 PM

Egypt’s NIR exceeds $50B end-October: CBE Updated 11/9/2025 10:59:00 AM

Egypt's net foreign assets leap to EGP 996.1B end-September: CBE Updated 11/4/2025 9:24:00 AM