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Finance Minister: Egypt will gather the symbols of “finance” in the world at the Climate Summit.. next Wednesday

Minister of Finance

Fathi Al-Sayeh

Encouraging the private sector to expand sustainable development projects

Mobilizing Funding for “Smart” Basic Infrastructure for Climate Adaptation

We aim to reach serious initiatives to reduce debt burdens in developing countries. We look forward to a greater role for commercial and multilateral banks in stimulating environmentally friendly investments

Enhancing financing opportunities that stimulate green transformation in African countries… in light of the global crisis

confirmed Dr. Mohamed Maait, Minister of Finance, said that Egypt will gather the world’s largest “finance” institutions on “Finance Day” next Wednesday, which will be inaugurated by Prime Minister Mostafa Madbouly, on the sidelines of the Climate Summit, and attended by finance ministers and heads of state. Regional and international finance institutions and managers of a number of international banks, led by David Malpass, President of the World Bank Group, Kristalina Georgieva, Director General of the International Monetary Fund, and others concerned with climate finance issues, explaining that the “Finance Day” organized by the Ministry within the Sharm El-Sheikh Summit activities includes holding 17 high-level sessions; To discuss mechanisms for facilitating a “green economic recovery”, by offering incentives that contribute to encouraging the private sector to expand sustainable development projects, with multilateral partnerships that take into account the environmental dimension; To achieve sustainable growth.034688
The Minister said, we are looking forward to a role Larger regional, international, commercial and multilateral banks, international financial institutions, and international development partners in catalysing green investments and mobilizing “smart” infrastructure financing for climate adaptation.
The Minister added that we aim to reach serious initiatives to reduce debt burdens in developing and African countries by enhancing financing opportunities that stimulate green transformation through easy mechanisms. Especially in light of a global crisis in which the negative effects of the “Corona” pandemic are intertwined with the repercussions of the war in Europe and climate change, in a way that contributes to making the brown continent more able to expand green projects and achieve sustainable development, and is consistent with the developed countries fulfilling their obligations so that the pledges enter

The Minister stressed the importance of cooperation with institutions International finance 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; so that it can meet the requirements of climate adaptation, reduce harmful emissions and rely on clean energy; It 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 limit the negative repercussions of climate change on many vital sectors, including: agriculture and food security; It is based on finding soft and stimulating financing for the transition to a green economy. Minister, during the “Finance Day” we are keen to exchange visions among participants from major international and regional institutions concerned with financing and climate issues; In order to reach a sustainable framework for discounted finances, and to develop financial instruments aimed at reducing harmful emissions, such as green bonds, pointing out that Egypt, as part of its preparation for the Finance Day, had brought together the African brothers in a continental meeting in Cairo of the Ministers of Finance and Environment, and the African position was coordinated and a unified vision for dealing was developed. With the environmental and economic consequences of climate change.