AfDB and Arab Monetary Fund deepen partnership

12 Oct 15

The African Development Bank and the Arab Monetary Fund have strengthened their partnership to support financial and economic development in 10 common member countries. 

AfDB president Akinwumi Adesina and AMF director general Abdulrahman Al Hamidy met at the World Bank-IMF 2015 annual meetings in Lima to discuss the economic challenges facing countries such as Egypt, Tunisia and Morocco.

Discussion focused on opportunities and ways to build a broad collaboration between the two development institutions.

“The AfDB is committed to working with the AMF and our other international and regional partners to support building a vibrant, innovative, robust and competitive financial systems in Africa at both domestic and regional levels,” said Adesina.

“This partnership will facilitate relations between the AfDB and the AMF, improve the efficiency of our efforts and provide a concrete basis for further cooperation on financial sector arena that will contribute positively to economic growth and social progress.”

Al Hamidy added: “Providing assistance to the development of the financial sector and supporting capacity development in the region has always been among our top priorities, and we look forward to pursuing and intensifying this effort to better tackle the needs of our African member countries.

“Our ongoing cooperation with AfDB has always been successful and we are glad that today it's being reinforced and strengthened to better serve the needs of our common member countries.”

 

  • Judith Ugwumadu
    Judith Ugwumadu

    Judith writes about public finance, public services and economics across Public Finance International and Public Finance. She previously undertook reporting stints at Financial Adviser, Global Security Finance and The Sunday Express.

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