The Central Bank of Egypt (CBE) said on Wednesday it is hosting the 9th Annual Conference of Mediterranean Central Banks in Cairo, bringing together governors, policymakers and economists to address mounting financial challenges across the region. Held under the theme "Harnessing Innovation and Integration for Sustainable and Inclusive Development in the Mediterranean Region," the conference is organised in collaboration with the Banco de España (BdE), the Organisation for Economic Co-operation and Development (OECD), the European Institute of the Mediterranean (IEMed), and the Union for the Mediterranean (UfM). It serves as a vital platform for dialogue and cooperation among Euro-Mediterranean central banks to address economic and financial matters of both global and regional significance. Held under the theme "Harnessing Innovation and Integration for Sustainable and Inclusive Development in the Mediterranean Region," the gathering featured central bank chiefs from Euro-Mediterranean countries, senior officials, and representatives from the OECD, the UfM, and the IEMed. CBE Governor Hassan Abdalla said hosting the summit underscored Egypt's commitment to regional collaboration. The Mediterranean, which has long served as a bridge between people, cultures, and continents, must now also evolve into a hub for innovation and resilience, Abdalla said in a statement, adding that cooperation was essential to turn today's challenges into opportunities. José Luis Escrivá, Governor of Banco de España, stressed the need to strengthen multilateralism. "It is precisely in times of uncertainty and division that the value of multilateralism becomes most evident," he said. OECD official Luiz de Mello noted that central banks are pivotal not only in ensuring stability but also in financing the green transition and fostering inclusive growth. IEMed President Senén Florensa warned that conflicts, climate change, and debt pressures were straining financial resilience, while UfM Deputy Secretary General Meltem Büyükkarakaş pointed to persistent inequalities and the digital divide. The conference sessions covered artificial intelligence in finance, sustainable development financing, financial inclusion, and regional integration. Discussions included ways to harness AI responsibly, expand access to financial services, and improve alignment of fiscal and monetary policies. Abdalla closed the summit by praising the "constructive ideas" exchanged and reaffirming Egypt's commitment to stability and sustainable growth in the Mediterranean. The next conference will be hosted by Banco de España, with a preparatory technical meeting planned four months in advance. Attribution: Amwal Al Ghad English
