After successfully hosting COP27 in November 2022, the Egyptian resort city of Sharm El Sheikh is preparing for the African Development Bank Group’s Annual Meetings in May. A preparatory mission to Cairo and Sharm El Sheikh led by the Bank’s Secretary General Vincent Nmehielle expressed satisfaction with the progress made to date towards the organization of the meetings, to be held from 22 to 26 May 2023.

The Governor of the Central Bank of Egypt and current Chairman of the Boards of Governors of the African Development Bank Group Mr. Hassan Abdalla and Professor Nmehielle met on Tuesday to review the general state of preparedness for the meetings. While concluding that Sharm El Sheikh has quality infrastructure and the necessary facilities to host the Bank Group’s Annual Meetings, Abdalla and Nmehielle encouraged the National Organizing Committee and the Bank team to spare no effort towards completing all pending organizational matters to ensure the success of the meetings.

The Governor of the Central Bank of Egypt said: “Hosting the Annual Meetings of the African Development Bank in Sharm El Sheikh confirms the keenness of the Egyptian leadership to strengthen and deepen cooperation with Africa across all fields, with special focus on economic collaboration. Through my Egyptian chairmanship of the Board of Governors of the African Development Bank and through overseeing the ongoing preparations with the African Development Bank, I assure that Egypt will save no efforts to make this year’s meetings a remarkable and unforgettable one.”

The Secretary General expressed satisfaction Sharm El Sheikh is prepared to host the meetings.

“I am happy with the speed with which the beautification works of the city of Sharm el-Sheikh have been accomplished since the Bank Group’s first preparatory mission in September 2022,” he said.

The delegation also met officials from various Egyptian institutions, including the Governor of South Sinai Province, Staff Major General Khaled Fouda, staff of the Central Bank of Egypt, along with all the ministries involved in the organization of the meetings.

The delegation noted that the city’s infrastructure had benefited from hosting the COP27 Climate Change Summit in November last year. The capacity of Sharm El Sheikh airport has doubled from 5 to 10 million passengers per year, while high-speed internet and the introduction of charging stations for electric vehicles have created a first-class infrastructure.

The Annual Meetings bring together finance ministers from the Bank Group’s eighty-one regional and non-regional member countries. The event is also attended by Central Bank governors, key private sector leaders, academics and development partners.

Up to 4,000 participants are expected to attend the 2023 Annual Meetings at the Sharm El Sheikh International Conference Center.

African Development Bank officials meet with Central Bank of Egypt's leadership team

Chawki Chahed