CAIRO, Oct 1 (KUNA) -- Governor of the Central Bank of Egypt (CBE) Abdalla Hassan called Thursday for cementing cooperation among central banks of the Mediterranean region to turn financial challenges into opportunities.
Speaking at the opening session of the 9th Conference of Mediterranean Central Banks held in Cairo today, Abdalla said that hosting this conference reflects Egypt's "unwavering commitment to fostering collaboration and exchanging expertise to promote stability and prosperity across the region".
He affirmed that the conference was an opportunity to deepen cooperation, particularly in light of current circumstances that demand collective action to overcome challenges.
"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," he said.
For his part, Banco de Espana Governor Jose Luis Escriva called for reinforcing multilateralism and building resilient financial systems that serve all segments of society. Meanwhile, the Organisation for Economic Cooperation and Development (OECD)'s Luiz de Mello highlighted the role of central banks in financing green transitions and supporting inclusive growth.
Held under the theme "Harnessing Innovation and Integration for Sustainable and Inclusive Development in the Mediterranean Region", the conference was organised in cooperation with Banco de Espana, the Organisation for Economic Cooperation and Development (OECD), the European Institute of the Mediterranean (IEMed), and the Union for the Mediterranean (UfM).
The conference's agenda features a number of key issues including the implications of artificial intelligence for central banks and the financial sector; financing for sustainable development and the green transition; financial inclusion for women entrepreneurs and SMEs; and advancing financial integration in the Mediterranean region.
This long-standing joint initiative fosters dialogue on the region's economic and financial outlook and the role of central banks in building resilience, inclusion and sustainability. (end) aff.ibi