President el-Sisi prioritizes African development financing at NEPAD summit

During the eighth African Union mid-year coordination meeting held in New Alamein City, President Abdel Fattah el-Sisi emphasized that development financing is a top priority for Egypt during its presidency of the African Union Development Agency (NEPAD) steering committee.

El-Sisi highlighted the need to address financing gaps to overcome developmental challenges across the continent. He noted that NEPAD has played a vital role in supporting infrastructure, agricultural transformation, human capital development, and regional integration. To bolster these efforts, Egypt has supported the creation of an African Union development fund under the ‘Africa Team’ initiative to enhance the collective capacity of African nations to execute continental projects.

The President also stressed the importance of the private sector as a primary driver for growth and job creation, calling for an investment environment that enables its role. Furthermore, he expressed the belief that Africa can transform the impacts of conflict into opportunities for development, moving from crisis management to building self-reliance and recovery capabilities.