African Development Bank Group Appoints Ahmed Rashad Attout as Acting Director of the Financial Sector Development Department

African Development Bank Group Appoints Ahmed Rashad Attout as Acting Director of the Financial Sector Development Department

The African Development Bank (www.AfDB.org) has appointed Ahmed Rashad Attout as Acting Director, Financial Sector Development Department, effective 1st December 2022.

A seasoned and results-oriented banker, Attout, an Egyptian citizen, has over 23 years of banking experience in Africa and the Middle East and is currently the Manager of the Capital Markets Development Division. He has a special focus on capital markets, sovereign and corporate finance.

As a key member of the Financial Sector Development team responsible for the establishment of client facing capital market operations within the Bank, Attout has been directly involved in the delivery and execution of key capital markets funded and unfunded operations of more than $4.5 billion in over 35 African countries. He has led several sovereign and non- sovereign capital markets transactions and has been involved in the origination and structuring of different liquidity and mortgage refinancing schemes to assist the continent address its housing challenges.

Attout led the operationalization of the Bank’s flagship Capital Markets Development Trust Fund (CMDTF), which assists African countries to develop their capital markets through grant funding. He also oversaw the implementation and launch of the Africa Exchange Linkage Project (AELP), which links and integrates Africa’s stock exchanges.

Mr. Attout joined the African