Egypt and the African Development Bank (AFDB) have signed a memorandum of understanding (MOU) on Monday to host the Bank Group's 2023 annual meetings in May next year. The meetings will be an opportunity for leaders to assess Africa's response to the growing threat posed by climate change and the impact of the situation in Ukraine on Africa's food security and untapped natural resources. Egypt's acting governor of the Central Bank of Egypt (CBE) Hassan Abdallah and AFDB's secretary general Nemehil have signed the MOU. Abdallah highlighted the AFDB's lead role as a catalyst for Africa's economic development. "This has been made possible, among other things, by the high-quality standards that Egypt possesses in meeting the requirements for hosting the bank's annual meetings," Nemehil added. Egypt was chosen to host the 2023 event after expressing its interest in hosting the meeting for the session for the period 2022 to 2027. The 2023 meeting is scheduled to held from 22 to 26 May in Egyptian resort city of Sharm El Sheikh.