Egypt Deepens Strategic Alliance with AfDB, Boosts Green and Inclusive Growth

President El-Sisi commended Dr. Adesina for transforming the African Development Bank into a central pillar of Africa’s sustainable development strategy.

In a high-level meeting held on May 11 in Cairo, Egyptian President Abdel-Fattah El-Sisi lauded the African Development Bank Group (AfDB) President Dr. Akinwumi Adesina for his exemplary leadership and the Bank’s transformative role in advancing critical investments across Africa over the past decade. The discussion marked a significant milestone in Egypt’s ongoing collaboration with the Bank, with renewed commitments to deepen strategic cooperation on climate action, private sector development, and infrastructure investment.

The Cairo summit brought together a host of key stakeholders including Dr. Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development and International Cooperation; Mohamed El Azizi, AfDB Director General for North Africa; and Ambassador Jalel Trabelsi, Special Envoy of the AfDB President for the Middle East, North Africa and Gulf Region. Ambassador Mohamed El-Shennawy, spokesperson for the Egyptian Presidency, was also in attendance.

A Transformative Partnership for Africa’s Future

President El-Sisi commended Dr. Adesina for transforming the African Development Bank into a central pillar of Africa’s sustainable development strategy. “Dr. Adesina's leadership has not only elevated the Bank’s performance but has positioned it as a catalyst for growth and opportunity throughout the continent,” El-Sisi remarked. He reiterated Egypt’s unwavering commitment to strengthening its partnership with the Bank in advancing shared goals.

Dr. Adesina, in turn, praised Egypt’s strategic role within the AfDB framework, noting that the country is the Bank’s second-largest Regional Member Country and its third-largest shareholder overall. “Egypt exemplifies what a results-oriented partnership looks like. Its leadership in driving regional development is commendable,” Adesina stated.

Advancing the Nexus of Water, Food and Energy (NWFE)

A central topic of discussion was Egypt’s innovative Nexus of Water, Food and Energy (NWFE) platform—a flagship national initiative integrating the country’s climate change response across sectors. The AfDB has emerged as a leading development partner in the NWFE, particularly under its water component.

To date, the Bank has approved $800,000 in grants to support technical studies for five advanced desalination plants. These plants are vital to improving water security and resilience in the face of climate-induced scarcity. The partnership underlines the Bank’s technical and financial leadership in supporting climate-smart infrastructure in Africa.

Driving Green Finance: Africa’s First Green Panda Bond

Further reinforcing Egypt’s leadership in climate finance, Dr. Adesina highlighted the African Development Bank’s role in helping the country become the first African nation to issue a Green Panda Bond. With the backing of a partial credit guarantee from the AfDB, Egypt successfully accessed China’s domestic bond market, securing favorable terms to finance clean transport and climate-resilient infrastructure.

This innovative bond complements other flagship clean energy projects such as the 1.1 GW Suez Wind Farm and the 200 MW Kom Ombo Solar PV Project. These ventures underscore Egypt’s progress toward its national target of sourcing 42% of its electricity from renewable sources by 2030.

Scaling Impact Through Investment and Innovation

Egypt’s partnership with the African Development Bank spans over 50 years, with cumulative investments totaling more than $8.2 billion. These investments have targeted high-impact sectors including energy, transportation, water, health, and agriculture.

As of 2025, the Bank’s active portfolio in Egypt comprises 28 ongoing operations valued at $2.05 billion. The 2025 pipeline includes a total lending program of $746 million across four strategic initiatives:

1. Youth Employment and Entrepreneurship Program: Aimed at empowering Egypt’s growing youth population through skill development, entrepreneurship training, and job creation mechanisms.

2. Biosimilar Drug Production: Supporting domestic manufacturing of affordable cancer and autoimmune treatments, this project seeks to expand access to life-saving therapies across the region.

3. Innovative Financial Guarantee Scheme: This mechanism helps Egypt attract private investment and secure long-term, low-cost funding for green and sustainable infrastructure projects.

4. Next-Generation Solar Power and Battery Storage Facility: Designed to significantly improve energy reliability and reduce emissions, this project will introduce one of Africa’s most advanced renewable energy systems.

A Model for Regional Transformation

Dr. Adesina emphasized that Egypt’s comprehensive development vision, backed by strong partnerships, represents a replicable model for other African nations. “The collaboration we are seeing with Egypt—on the NWFE platform, the Panda Bond, and across our investment portfolio—shows what’s possible when bold leadership meets innovative development finance,” he said.

With a robust institutional framework, strategic climate vision, and an expanding partnership with the African Development Bank, Egypt is poised to drive a new era of inclusive, resilient, and green growth in Africa.