House approves presidential decree on allocating AFDB stakes

CAIRO – 19 November 2017: The House of Representatives during Sunday's session approved President Abdel Fatah el-Sisi's decree 381/2017 on approving the African Development Bank (AFDB) board of directors' decision no. 8 of 2017, issued on March 2017, to allocate shares at the bank.

The dedication of the shares will be within the framework of transferring the ownership of the shares put up for subscription on September 30, 2016.

The approval, under House Speaker Ali Abdel Aaal, followed reports submitted by the joint committees of economic affairs, planning and budget as well as African affairs.