In a significant move to strengthen strategic partnerships and regional cooperation
the Central Bank of Egypt (CBE) hosted the 9th Annual Mediterranean Central Banks Conference
on Wednesday The conference convened prominent Central Bank Governors from Euro-Mediterranean
countries, alongside policymakers, economic experts, academics, and representatives from international
financial institutions Organized in collaboration with 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), the event served as a crucial platform for dialogue and cooperation on pressing
economic and financial challenges at both regional and global levels
Egypt’s Commitment to Regional Stability and Prosperity Highlighted
H E Mr Hassan Abdalla, Governor of the Central Bank of Egypt, opened the conference
by welcoming participants from across the Mediterranean region He emphasized Egypt’s
dedication to fostering collaboration and exchanging expertise to ensure economic stability
and shared prosperity Mr Abdalla described the conference as a pivotal opportunity to deepen
cooperation among Mediterranean countries amid challenging global circumstances He underscored
the region’s historic role as a bridge connecting people, cultures, and continents, advocating for its
evolution into a hub of innovation, resilience, and inclusive financial systems “By working together
we can transform today’s challenges into opportunities for building a more stable and sustainable
financial future,” he affirmed
Strengthening Multilateral Financial Cooperation in Uncertain Times
H E Mr José Luis Escrivá, Governor of Banco de España, stressed the importance of enhancing
cooperation between central banks to build resilient financial systems that serve all societal segments
He highlighted the critical role of multilateralism in navigating current uncertainties, calling for active
efforts to reinforce and adapt multilateral frameworks to the rapidly changing global environment
Central Banks’ Expanding Role in Innovation and Green Finance
Mr Luiz de Mello, Director of the Country Studies Branch at the OECD, outlined the expanded
mandate of central banks beyond maintaining monetary stability He emphasized their pivotal
role in supporting innovation, green finance, and inclusive economic growth
Acknowledging the heightened need for open dialogue, Mr de Mello noted that the OECD
is committed to facilitating policy discussions aimed at strengthening cooperation, building trust
and advancing reforms for more resilient and sustainable economies across the Mediterranean
Addressing Geopolitical and Economic Pressures in the Mediterranean
Mr Senén Florensa, Executive President of the IEMed, highlighted the complex challenges
facing the Mediterranean region, including violent conflicts, global trade tensions, debt crises
climate risks, and the pursuit of more inclusive growth He emphasized the necessity of strong
central banks as pillars of financial stability amid these pressures
Similarly, H E Ms Meltem Büyükkarakaş, Deputy Secretary General of the UfM, pointed to ongoing
geopolitical tensions, developmental disparities, social inequalities, and the digital divide in the
Mediterranean. She stressed that realizing the region’s potential depends on advancing
integration through green and digital transitions, committing the UfM to translate this vision
into impactful, concrete actions
Key Conference Sessions Focus on Innovation, Sustainability, and Integration
The conference featured four main sessions addressing critical topics
Artificial Intelligence, Central Banks, and the Financial Sector
Moderated by the Governor of Banco de España, this session examined the transformative
role of artificial intelligence in the banking and financial sectors, focusing on maximizing benefits
while managing risks.Financing for Sustainable Development
Led by the Governor of the CBE, discussions centered on the role of central banks in accelerating
the green economy transition and channeling finance towards the Sustainable Development Goals (SDGs)
particularly in response to climate and environmental challenges
Financial Inclusion for All
This session highlighted initiatives designed to expand financial services accessibility
promote economic empowerment, and advance social equity through innovative and inclusive
financial solutions Financial Integration
The final session reviewed the OECD’s report on strengthening regional cooperation, enhancing
digital infrastructure, and improving policy coordination across fiscal and monetary domains in the Mediterranean
Closing Remarks and Future Outlook
In his closing statement, Mr Hassan Abdalla expressed gratitude to all participants
praising the productive discussions and innovative ideas shared He affirmed that the
conference outcomes represent a crucial step toward enhancing financial stability and
advancing sustainable, inclusive development throughout the Euro-Mediterranean region
The conference concluded with the announcement that the next edition will be hosted by
Banco de España Additionally, a technical preparatory meeting involving participating central
banks will be convened approximately four months prior to the next conference to ensure robust
coordination and knowledge exchange This conference underscores the vital role of regional
collaboration among central banks in harnessing innovation, driving green finance, and fostering
economic inclusion to build a resilient Mediterranean future amid global challenges
