Egypt 3rd largest member of African Development Bank

Egypt is the third largest member at the African Development Bank, Country Manager of the African Bank Malinne Bloomberg said Wednesday during the Euromoney Egypt Conference.

She clarified that Egypt comes in the third place in terms of share holding and borrowing.

This came during her speech during a panel entitled “Building an Agile Financial Sector” at the Euromoney Conference.

The panel included Managing Director TTS corporate and Public Sector Head of the Middle East, Pakistan and Turkey at Citi Bank Dave Alderd, Chief Executive Officer at Al Ahli United Bank Nevine el Messery, Chairperson of Export Development Bank of Egypt Mervant Soltan,and Managing partner of Helmey, Hamza and Partners (Baker McKenzie).

“The bank has two windows of financing to Egypt for both the public and private sectors,” she added.

According to Bloomberg, the public sector window provides financing to the government including all its sectors, while the private sectors financing goes for companies and their own projects.

The 23rd round of Euromoney Conference took place in Egypt on September 4 and 5, under the theme of Resilience and Agility.

Egypt Today Contribution Time: 05-Sep-2018 13:52 (GMT)
Egypt Today Last Update Time: 05-Sep-2018 13:52 (GMT)