In a discussion session with the Mayor of London and attended by a number of the business community and media professionals: Maait calls on international development partners to provide suitable financing opportunities for emerging economies.
Dr. Mohamed Maait, Minister of Finance, confirmed, that the current global economic crisis, climate changes, The challenges have multiplied for most developing countries and emerging economies, The challenges have multiplied for most developing countries and emerging economies, In order to support the policies and programs for the transformation of the green economy, In order to achieve sustainable growth, stimulating the private sector to actively participate in environmentally friendly projects, In a way that helps reduce the suffering of the environment and people by finding appropriate alternatives. He expressed his appreciation to the development partners who expressed their willingness to support Egypt for the success of the climate summit and to come up with the best recommendations.
Minister said, In a discussion session with the Mayor of London at his residence, in the presence of a number of representatives of the business community and the media, The Egyptian ambassador to Britain The British Ambassador to Cairo, Khaled Naseer, President of the Egyptian British Association, Nasreen Lashin, Head of the Investor Support Unit at the Ministry of Finance, During his participation in the work of the trade mission “BEBA” in London, The climate summit scheduled to be held in Egypt next November aims to discuss funding promises to combat climate change in the world. Especially for developing and emerging countries and Africa, So that the transition from the stage of recommendations to the implementation of pledges and commitments and the development of the right mechanisms, Bearing in mind that most developing countries and emerging economies are burdened with the cost and servicing of debt, This requires the assistance of these countries to formulate a vision that enables them to meet this challenge in conjunction with combating climate change, Pointing out that we are already talking with international development partners such as the International Monetary Fund, the World Bank and global commercial banks; To reduce the debt burden on developing and emerging countries against the requirements of climate change in this exceptional and difficult period, These institutions were invited to a discussion session in this regard next September in order to come up with satisfactory results to be included in the agenda of the Sharm El-Sheikh Climate Summit. Especially since we have good ideas, a purposeful agenda, and ambitious visions that we will review in this session; In a way that enables us to deal quickly with the exceptional situations faced by developing and African countries.
Minister added, Egypt is keen to make the climate summit a success and produce good results, We are now working to speak with the relevant actors and stakeholders to ensure that we are on the right track in the ongoing preparations for this historic event. He expressed his confidence in the climate summit participants’ keenness to review the current and proposed policies and mechanisms in order to reach the best recommendations and operational solutions to combat climate change.