Discussing preparations for their 2022 – 2026 joint strategy, Egypt’s Minister of International Cooperation (MoIC) Rania Al-Mashat met with African Development Bank (AfDB) heads with discussions on boosting bilateral cooperation across various sectors, including the production and export of vaccines.

Vice President of AfDB for the Private Sector, Infrastructure, and Industrialization, Solomon Quaynor and Malinne Blomberg, AfDB Deputy Director for North Africa and Country Manager for Egypt attended the meeting.

Topics included addressing the conclusions of the recent consultations between Quaynor and the Holding Company for Biopharmaceuticals and Vaccines (VACSERA), which was coordinated by the MoIC, to examine means of enhancing cooperation between the bank and Egypt in the manufacturing of vaccines and transforming Egypt into a regional center of producing various types of vaccines.

Quaynor expressed his interest in this project so as to raise the productive efficiency in this sector and to promote it into becoming the leading program for development cooperation in Africa.

The VP also expressed that his meetings with relevant officials and the private sector’s representatives, as well as his field visits, underlined Egypt’s success stories in scaling up the private sector’s engagement in development efforts, which shall also be undertaken across Africa.

Al Mashat emphasized the importance of the strategic partnership with AfDB, supporting national efforts to achieve development across different sectors, boosting development partnerships within the private sector, and strengthening cooperation between African countries.

The Egypt-AfDB ongoing cooperation portfolio currently amounts to $6.74 billion, distributed to 107 projects across sectors of economic and social development with $1.1 billion allocated to 19 private sector entities.

The meeting further discussed areas of future cooperation between Egypt and the African Development Bank, studying proposed strategic areas and national priorities aimed at supporting the Government of Egypt’s program of social and economic development.

Officials of the African Development Bank further noted that a delegation from the bank will visit Egypt during the month of September to discuss preparations of the 2022-2026 joint strategy.