Economy

Dr.. Maait reviews.. and confirms: Egypt gathers international financial institutions in Sharm El-Sheikh, November 9.. on Finance Day in conjunction with the activities of the Climate Summit

Minister of Finance

Fathi Al-Sayeh

Minister of Finance, Dr. Mohamed Maait, reviewed the latest preparations for the Finance Day, which will be organized by the Ministry of Finance on November 9 in Sharm El-Sheikh, in conjunction with the activities of the Climate Summit, in which Egypt will gather a number of International financial institutions, global banks and other stakeholders on climate finance issues, IMF Managing Director Kristalina Georgieva, UN Special Envoy for Climate Action and Finance Mark Carney, Asian Infrastructure Investment Bank President Jin Liqun, and Committee Executive Secretary Rola Dashti emphasized The United Nations Economic Forum for Western Asia, and Marcos Trujillo, President of the New Development Bank, their participation in the “Finance Day”; For their keenness to contribute effectively to transforming international commitments to protect the climate into executive measures and initiatives that help preserve the environment and reduce harmful emissions, by working to bridge financing gaps.
The Minister indicated that the participants in the “Finance Day” are scheduled to discuss the development of innovative and concessional financing tools and systems in order to reduce the cost of transition to a green economy. In a way that contributes to facilitating addressing the effects of “climate change” especially for African and developing countries, pointing out that we are looking forward to establishing multilateral partnerships with the private sector to expand clean investments and achieve green and sustainable growth.
The Minister stressed the importance of cooperation with international financial institutions to work on integrating the environmental and climate dimension into the economic policies of various countries of the world, as well as creating Viable solutions to reduce debt burdens in emerging economies; To enable it to meet the requirements of climate adaptation, reduce harmful emissions and rely on clean energy; In a manner that contributes to laying the foundations for a safe and sustainable ecosystem that is more capable of avoiding future environmental, health and economic crises. The Minister added that a unified global vision should be developed to reduce the negative repercussions of climate change on many vital sectors, including: agriculture and food security; It is based on finding concessional and stimulating financing for the transition to a green economy.