Egypt’s Minister of Foreign Affairs, International Co-operation and Egyptian Expatriates, Badr Abdel-Aati, called for stronger international co-operation to address mounting global economic challenges during the 35th Annual Meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) in Latvia on Saturday.
Speaking in his capacity as Egypt’s governor to the EBRD, Abdel-Aati highlighted the growing economic and development consequences of conflicts and geopolitical tensions, particularly for developing countries.
He noted that ongoing crises have disrupted global trade, supply chains, energy markets and commodity flows, while also tightening international financing conditions.
The minister outlined the challenges facing many African and developing countries, including rising borrowing costs, increasing debt burdens and limited access to concessional financing.
He stressed the importance of enhancing international co-operation and strengthening the ability of multilateral development and financing institutions to respond to emerging challenges.
Minister Abdel-Aati also underscored the importance of promoting regional economic co-operation and integration as a means of supporting sustainable growth across Africa and creating new opportunities for investment and development.
He praised the EBRD’s role in supporting the private sector, sustainable infrastructure, energy security, and essential services, describing these efforts as key to strengthening economic resilience and advancing development goals.
Abdel-Aati also welcomed the EBRD’s Conflict Response Initiative, which aims to support economies affected by conflicts in the Middle East, saying the programme reflects the importance of multilateral action in addressing regional and global challenges.
