Cairo – Mubasher: Egypt has submitted a request to raise its stake in the African Development Bank’s (AfDB) capital by a further 800 shares to become the second largest shareholder in the bank after Nigeria, the AfDB's vice president said.
The Abidjan-based bank will discuss the offered request during the board meeting scheduled to be held this month in Côte d’Ivoire, Khaled Sherif told Al Ahram Newspaper, adding that other countries, including Algeria and Morocco, have also asked to raise their stakes in the bank.
During his current visit to Egypt, Sherif was in talks with planning minister Hala El-Said over the possibility of offering technical aid and financing to Egypt’s sovereign fund.
In September, the most populous Arab country received the third and final tranche of a $1.5 billion of the AfDB’s loan.
