Cairo: Governor of the Central Bank of Egypt (CBE) Abdalla Hassan called Thursday for strengthening cooperation among central banks of the Mediterranean region to transform financial challenges into opportunities. Speaking at the opening session of the 9th Conference of Mediterranean Central Banks held in Cairo, Abdalla emphasized Egypt’s commitment to fostering collaboration and exchanging expertise to promote stability and prosperity across the region.
According to Kuwait News Agency, Abdalla affirmed that the conference provides an opportunity to deepen cooperation, especially in light of current circumstances that demand collective action to overcome challenges. He highlighted that the Mediterranean region, historically a bridge between people, cultures, and continents, should also become a hub for innovation and resilience.
In addition, Banco de Espana Governor Jose Luis Escriva advocated for reinforcing multilateralism and building resilient financial systems that benefit all segments of society. Meanwhile, the Organisation for Economic Cooperation and Development (OECD)’s Luiz de Mello emphasized the role of central banks in financing green transitions and supporting inclusive growth.
The conference, organized under the theme “Harnessing Innovation and Integration for Sustainable and Inclusive Development in the Mediterranean Region,” was held in collaboration with Banco de Espana, the OECD, the European Institute of the Mediterranean (IEMed), and the Union for the Mediterranean (UfM). Key issues on the agenda included the implications of artificial intelligence for central banks and the financial sector, financing for sustainable development and the green transition, financial inclusion for women entrepreneurs and SMEs, and advancing financial integration in the Mediterranean region.
This longstanding joint initiative aims to foster dialogue on the region’s economic and financial outlook and the role of central banks in building resilience, inclusion, and sustainability.