AfDB 2024 Annual Meetings: Ouerghi calls for reviewing international financial system

Tunis: There is need to review the international financial system, especially the multiparty system so that it becomes fairer and meets the sustainable and inclusive development needs of African countries, said Economy and Planning Minister Feriel Ouerghi.There is also need to provide the right conditions for promoting the private sector in Africa so as to support the efforts of governments and countries in socio-economic development, she added while taking part in a governors' discussion on "Mobilising Finance for Private Sector Development in Africa," held on the fringes of the African Development Bank Group's 2024 Annual Meetings, held on May 28-29 in Nairobi, Kenya.Ouerghi also met, on the sidelines of these annual meetings, with AfDB President Akinwumi Adesina and AfDB Director General for North Africa Mohamed El Azizi.Attended by AfDB Deputy Director General for North Africa Region Malinne Blomberg, Ouerghi expressed hope to scale up cooperation with the Bank over the next period, especially in te rms of funding priority public and private projects.She also called for flexible, advantageous financing to be mobilised to support small and medium-sized enterprises (SMEs).On this occasion, she commended the AfDB's efforts to speed up preparation of studies on the creation of the "Bank for Youth Entrepreneurship" project, reiterating Tunisia's readiness to provide the necessary institutional and logistical support to the newly created African Pharmaceutical Technology Foundation (APTF) in Rwanda.For his part, Adesina affirmed the AfDB's continuous support to the the reform process in Tunisia and voiced readiness to examine priority projects requiring financing.Source: Agence Tunis Afrique Presse