Egyptian President Abdel-Fattah El-Sisi
Egyptian President Abdel-Fattah El-Sisi said that the Egyptian economy is now more capable than ever of facing challenges posed by the developments related to the international conditions and meet the aspirations of the Egyptian people.
This came in the president's address before the G20 Compact with Africa (CwA) via video conferencing, Presidential Spokesman Ambassador Bassam Radi said in a statement on Friday.
German Chancellor Angela Merkel participated in the fourth edition of the summit, along with the heads of African state and government, members of the G20 and a number of international institutions.
El-Sisi thanked Merkel for her efforts and cooperation during her term in office, which helped boost partnership between Egypt and Germany at the political, economic and trade levels.
President Sisi's participation in the event, which is initiated under the German G20 Presidency, is important as the summit provides a distinguished platform for expounding Egypt's sustainable development achievements over the past years, said the spokesman.
The G20 is an intergovernmental forum comprising 19 countries and the European Union (EU). It works to address major issues related to the global economy.
The G20 Compact with Africa (CwA) was initiated under the German G20 Presidency to promote private investment in Africa, including in infrastructure.
The initiative is demand-driven and open to all African countries. Since its launch in 2017, twelve African countries have joined the initiative: Benin, Burkina Faso, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Togo and Tunisia.