Somali PM attends African Development Bank Summit in Egypt

Prime Minister of the Federal Government of Somalia, Hamza Abdi Barre on Monday set off to attend the African Development Bank Summit in Sharm El-Sheikh city in Egypt from today 22nd to 26 May 2023, under the theme of ‘Mobilizing Private Sector Financing for Climate and Green Growth in Africa’.

‘The Prime Minister’s attendance at this crucial gathering of African leaders sends a strong signal of Somali Government’s resolve to mitigate the adverse effects of climate change while simultaneously fostering economic growth and development’, the Office of the Prime Minister said on Twitter Post.

The event will witness the participation of AfDB governors representing 81 regional and non-regional member countries, in addition to Governors of Central Banks, Ministers of Finance, senior officials from the private sector, academia, and development partners, with an expected attendance of around 4,000 participants.

The event is a good opportunity for the participating countries to exchange their case studies and their expertise as well as propose innovative financing solutions that catalyze the African development efforts, especially after COVID-19 crisis and the repercussions of the geopolitical tensions. This comes in light of the effective participation of regional and international multi-lateral development financing institutions.

It is the third time for Egypt to host the Annual Meetings of the African Development Bank Group. The previous time was in 1999. Egypt is also the third-largest shareholder in the bank and one of the largest beneficiaries in terms of operations.

Source: Somali National News Agency