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Dr.. Maait: We are keen to formulate a unified African vision in combating climate change
Dr. Mohamed Maait, Minister of Finance, A joint meeting with Dr. Yasmine Fouad, Minister of Environment, Dr. Rania Al-Mashat, Minister of International Cooperation, In the presence of Ambassador Mohamed Nasr, Director of the Environment and Sustainable Development Department at the Ministry of Foreign Affairs, As part of the ongoing preparations to host the Climate Summit “COP 27” in Sharm El-Sheikh next November, and discussed the activities expected to be held with multilateral and bilateral development partners, and African Ministers of Finance and Environment in September, In preparation for the Climate Summit and Funding Day, held on the sidelines of the summit.
Dr. Mohamed Maait, Minister of Finance, confirmed, Egypt’s keenness to formulate a unified African vision in combating climate change, Through the meetings of African Ministers of Finance and Environment, and discussion sessions with international development partners, scheduled to be held in Egypt during the first half of next September, In preparation for Funding Day, Organized by Egypt on the sidelines of the Climate Summit; In order to meet the financing needs of African countries through concessional mechanisms, Helping the transition to a green economy laying the foundations for sustainable financing, That this continental vision be adopted in our discussions with international development partners; In order to contribute to maximizing environmentally friendly projects, Explaining the need to pay attention to the global economic crisis with the repercussions of climate change, Economic challenges multiplied in developing and African countries, in a way that forces action, during the climate summit, To take the necessary measures to transform international commitments into executive measures to help these countries adapt to these exceptional circumstances, So that debt burdens on emerging economies are reduced, To enable it to meet the requirements of combating climate change.
Minister added, We are keen on the effective participation of all international partners in the discussion sessions that pave the way for the “Finance Day”; In order to develop a strategic vision in financing the areas of climate adaptation, especially in developing countries, Pointing out that Egypt has good ideas, a purposeful agenda, and ambitious visions that we will review in these sessions. In a manner that enables us to deal quickly with the exceptional situations faced by developing and African countries, As part of Egypt’s adoption of the National Climate Change Strategy 2050, aimed at laying the foundations for an integrated and sustainable ecosystem, Strengthens the state’s capabilities to face various risks.
Minister of International Cooperation: The gathering of African finance and environment ministers at the Egypt Forum for International Cooperation and Development Finance next September stimulates the development of a unified vision for the countries of the continent on green transformation and climate finance to push for its implementation during the COP27 climate summit
Dr. Rania Al-Mashat confirmed, Minister of International Cooperation, The importance of the “Finance Day” to be held within the “COP 27” climate summit, Which will represent an opportunity to collaborate and communicate closely with international financial institutions and multilateral and bilateral development partners, On mobilizing financing mechanisms and promoting blended financing for the implementation of climate action plans at the local, regional and international levels.
“Al-Mashat” indicated, Noting that financing is one of the most basic axes the world needs to advance climate action, meet the aspirations of developing countries and emerging economies to transition to a green economy, reduce harmful emissions, implementing mitigation and adaptation projects to the repercussions of climate change, stimulating the participation of the private sector in development efforts, It is imperative that international institutions, multilateral development banks, and the private sector do their part to help governments provide the funds needed to finance climate action plans and a green transition.
Al-Mashat explained, The Egypt Forum for International Cooperation and Development Finance, scheduled for next September. It provides opportunities to prepare and prepare for “Finance Day”, Through coordinating the visions and joint efforts between the governments of the countries of the African continent, African Ministers of Finance and Environment gathered to develop a unified vision to be achieved during the Climate Summit, With the aim of advancing the continent’s efforts to achieve sustainable development 2030 and Africa’s Agenda 2063 and reduce the harmful effects of climate change.
Environment Minister: Connecting climate change and financing drives climate action and helps jump-start implementation
For her part, Dr. Yasmine Fouad, Minister of Environment, That Egypt, through its presidency of the next climate conference «COP 27», And the activities leading up to it aim to reach a consensus on the needs of African countries in the climate change file, as well as accelerate the pace of work on providing climate finance. Emphasizing the availability of existing funding within international organizations, and identifying innovative financing tools “debt swaps, green finance, and loans.”
With regard to the International Finance Conference, which will be held next September, the Minister of Environment drew attention to the preparations for Egypt’s hosting of the next climate conference “COP 27”. To the importance of this conference in linking the issues of environment, climate and finance, Which is a key driver to facilitate the process of addressing the effects of climate change and the urgent start of implementation, In the context of affirming that the next climate conference chaired by Egypt is an implementation conference, Noting the full coordination between the ministries of environment, and international cooperation, and finance to facilitate the participation of international bodies and development partners, African Ministers of Environment and Finance.
The meeting was attended by: Sherine El Sharkawy, Senior Assistant Minister of Finance for Economic Affairs, Ahmed Abdel Razek, permanent undersecretary of the Ministry of Finance, Dr. Mona Nasser, Assistant Minister for Customs Follow-up and Development, and Khaled Nofal, Assistant Minister for Administrative and Technical Development, Ali Al-Sisi, head of the general budget sector, and Ambassador Dr. Hossam Hussein, Advisor to the Minister for External Relations, Mai Adel, Advisor to the Minister for Financial Markets, Dr. Muhammad Ibrahim, Deputy Minister for Economic Affairs, From the Ministry of International Cooperation: Randa Hamza, Assistant Minister for Strategic Planning, Monitoring and Evaluation, and Dr. Mohamed Abdel Gawad, Minister Plenipotentiary of Commerce and Head of the Cooperation Sector with the United Nations, International Organizations and International and Regional Financial Institutions.