CBE hosts 9th Annual Conference of Mediterranean Central Banks in Cairo
Updated 10/2/2025 8:31:00 AM
Arab Finance: The Central Bank of Egypt (CBE) hosted the 9th Annual Conference of Mediterranean Central Banks on Wednesday, October 1st, as per an official statement.
Held under the theme of “Harnessing Innovation and Integration for Sustainable and Inclusive Development in the Mediterranean Region,” the event brought together several Central Bank Governors from Euro-Mediterranean countries.
Key policymakers, economic experts, academics, and representatives of international financial institutions also attended the conference.
The conference was organized in cooperation with the Banco de España (BdE), the Organisation for Economic Co-operation and Development (OECD), the European Institute of the Mediterranean (IEMed), and the Union for the Mediterranean (UfM).
Hassan Abdalla, Governor of the CBE, emphasized that hosting this major event reflects Egypt’s commitment to strengthening collaboration and exchanging expertise to promote stability and prosperity across the region.
He highlighted that this conference marks a valuable opportunity to enhance cooperation among the Mediterranean countries, particularly in light of current circumstances that demand collective action to address shared challenges.
Abdalla also pointed out that this year’s agenda covers issues aiming at building a more resilient and prosperous economic future.
For his part, José Luis Escrivá, Governor of Banco de España, called for reinforcing cooperation between central banks participating in the conference “to continue building resilient financial systems that serve all segments of society.”
“It is precisely in times of uncertainty and division that the value of multilateralism becomes most evident. We must therefore not only preserve, but actively reinforce the multilateral system, ensuring it remains fit for purpose in a rapidly evolving world,” he added.
Meanwhile, Luiz de Mello, Director of the Country Studies Branch at the Economics Department of the OECD, said: “As a trusted platform for policy dialogue, the OECD stands ready to continue supporting this dialogue and to work hand in hand with our partners to advance reforms and build more resilient, sustainable economies across the Mediterranean.”
Senén Florensa, Executive President of the IEMed, commented: “The Mediterranean faces the combined pressures of violent conflicts, global trade wars, debt crises, climate risks, and the challenge of achieving more inclusive and sustainable growth. These issues test our financial resilience and underline the importance of strong central banks that act as anchors of stability.”
Furthermore, Meltem Büyükkarakas, Deputy Secretary General of the UfM, expressed that the Mediterranean is currently confronted with “geopolitical tensions, developmental gaps, social inequalities and the digital divide”. She stressed that unlocking the region’s potential requires advancing integration “driven by green and digital transitions.
Büyükkarakas also noted that the UfM is determined to translate this vision into “concrete actions with tangible impact for the people of our region”.
During the conference, it was revealed that the next edition will be hosted by Banco de España.
It was also agreed that a technical preparatory meeting at the staff level will be held among the participating central banks four months before the conference to promote stronger alignment, coordination, and the exchange of expertise among the relevant stakeholders.
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