Abdullah added, in a welcome message broadcast by the African Development Bank: “After Egypt’s success in hosting COP27, in addition to other major events including the 2022 Islamic Development Bank Annual Meetings, I am confident that the 2023 Annual Meetings of the Bank in Sharm El-Sheikh will be an exceptional event.”The governor affirmed that Egypt’s hosting of the annual meetings for this year confirms the state’s firm determination to support integration among the countries and institutions of the African continent and its development through permanent and continuous cooperation with development partners, led by the African Development Bank Group. Climate change contributes to a number of negative repercussions, especially on food security, increasing population displacement, and increasing pressure on water resources on the continent. “We are all aware that the current level of climate financing on the continent needs more resources, as total flows cover only 12% of the required financing, and it is critical to make additional resources available to build economies that are resilient to climate change,” he continued. It is noteworthy that this is the third time that Egypt has hosted the annual meetings of the African Development Bank Group, the last of which was in 1999. Egypt is also the bank’s third largest shareholder and one of the largest beneficiaries of its development operations in the African continent.
