-    A greater role is needed for the African Development Bank in the financing of development projects in the countries of the continent.

- Cairo hosts the meetings of African Finance Ministers Next June.

Dr. Youssef Boutros Ghali the minister of finance assured the need for greater representation of emerging and African countries and strengthen their participation in decision-making process related to the management of the global economy.

Pointing to the effective role played by the Intenational financial policies Committee in the International Monetary Fund To strengthen the voices of the emerging countries, in the light of the universality of representation of Members of the International Monetary Fund better than the international working groups and other committees That would be formed from among a limited number of countries.

That came in a speech delivered on behalf of Mr. Hani Qadri, The Finance Deputy Minister In the meetings of the Group of 10 finance ministers and African central banks governors which was held in South Africa to discuss the continent countries facing to the global financial crisis.

The Minister explained that in the light of the difficulties faced by African States in obtaining funding for the various projects as a result of the global financial crisis, there must be working and cooperation on the global and regional and local range to cross this crisis and to avoid effect on the development plans of the States of the continent, which aims to raise the living standard of citizens in these countries.

The Deputy Minister has presented during the meeting the financial and economic procedures taken by the Egyptian government to face the crisis of world prices rising during the past year, and the decisions taken recently to stimulate the domestic demand in the light of increasing the intensity of the global financial crisis in the past months.

(Source: Ministry of Finance)