The high-level meetings brought together ministers of finance, economy, and international cooperation from various Arab governments.
Egypt plays a leading role in Arab financial institutions and organizations - Press Photo
Dr. Rania Al-Mashat, Egypt's Minister of International Cooperation, participated on Saturday in the joint annual meetings of Arab financial institutions held in the city of Rabat, Morocco.
The high-level meetings brought together ministers of finance, economy, and international cooperation from various Arab governments, as well as heads of Arab financial institutions.
The meetings are part of the annual gatherings of Arab financial institutions and organizations, which include the Arab Fund for Economic and Social Development, the Arab Investment and Export Credit Guarantee Corporation, the Arab Bank for Economic Development in Africa, the Arab Monetary Fund, and the Arab Authority for Agricultural Investment and Development.
Egypt maintains strong relationships with various Arab financial institutions, reflecting its commitment to strengthening economic ties with development partners in both multilateral and bilateral frameworks.
The country seeks to promote regional integration and encourage the participation of financial institutions in supporting development efforts in Egypt on all fronts.
It is worth noting that the Arab Republic of Egypt participates in the capital of financial institutions and organizations, where it is among the largest contributors to the Arab Fund for Economic and Social Development with a capital of 183.2 million Kuwaiti dinars.
Additionally, Egypt contributes to the special account for financing small and medium-sized private sector projects in Arab countries with a value of $20 million, and to the Arab Investment and Export Credit Guarantee Corporation with a value of 1.9 million Kuwaiti dinars.
Egypt has been making steady progress in economic reform, thanks to the government's strong commitment to reform measures and international cooperation.
In March 2022, the country received a $5.2 billion loan from the International Monetary Fund, highlighting the country's progress in implementing structural reforms and promoting inclusive growth. This loan is part of a broader $12 billion loan program that aims to support Egypt's economic reforms and mitigate the impact of the COVID-19 pandemic.
