Egypt’s Foreign Minister Discusses Cooperation with Arab Economic Development Fund Chairman

لقاء وزير الخارجية.

Dr. Badr Abdel Aty, Egypt’s Minister of Foreign Affairs and International Cooperation, held a phone conversation with Mr. Fawzi Al-Hanif, Director General and Chairman of the Board of the Arab Fund for Economic and Social Development. The discussion focused on enhancing cooperation between Egypt and the Arab Fund, as well as outlining priorities for future collaboration.

The minister expressed pride in the historical partnership that has connected Egypt with the Arab Fund for over fifty years. He noted that during this period, the fund has contributed significantly to financing pivotal development projects across various economic sectors, including agriculture, electricity, water, and transportation, with total financing amounting to approximately $5.2 billion. He also acknowledged the diligent efforts of the fund in supporting development initiatives across different Arab countries.

Moreover, Minister Abdel Aty emphasized the critical role of multilateral funds in mitigating the impacts of the current regional crisis, particularly in supporting the most affected nations. He highlighted the necessity for coordinated Arab efforts to address economic and developmental challenges arising from this crisis.