Monday, 25 May 2026
EU and Egypt extend key program supporting African central banks
The Governor of the Central Bank of Egypt, Mr. Hassan Abdalla, and the European Union Ambassador to Egypt and the Arab League, Ms. Angelina Eichhorst, have jointly opened the ninth meeting of the Coordinating Committee for the EU-funded Regional Initiative to Support African Central Banks. This milestone event, hosted at the Central Bank of Egypt, brought together representatives from several African and European central banks.
During the meeting, participants announced the extension of the program for an additional two years, moving its new completion date to December 2027. The initiative, which launched in December 2023, aims to strengthen macroeconomic and financial stability in Africa through capacity building, knowledge exchange, and policy development.
Mr. Abdalla highlighted the program’s achievements, emphasizing that reinforced collaboration between African and European central banks has driven positive outcomes—ranging from improved institutional capacity to effective reforms facing global economic challenges. The next phase will deepen technical support, boost financial sector transparency, and promote sustainable growth.
Key focus areas include climate change, digital transformation, artificial intelligence, governance, and anti-money laundering measures. The program is managed by the central banks of Germany and France, working closely with their peers in the EU, including the Belgian, Spanish, Italian, Lithuanian, Portuguese, and Slovakian central banks.
Beneficiaries span 24 African nations, including Nigeria, Ghana, Morocco, South Africa, Kenya, Tanzania, Egypt, and Tunisia, among others. This collaboration seeks to foster financial resilience, encourage investment and trade, and ensure Africa’s sustained development in an increasingly interconnected world.