CAIRO – Egypt’s Finance Minister Mohamed Maait said Friday that Egypt will bring together the world leading and major financing institutions in the UN Climate Conference (COP27).
Prime Minister Mustafa Madbouli will open the “Finance Day”, hosted by Egypt on November 9 in Sharm El Sheikh, amid the activities of COP27, slated to be held in the Red Sea resort city on November 6-18.
A host of finance ministers, heads of regional and international financial institutions, topped by International Monetary Fund Managing Director Kristalina Georgieva and World Bank Group President David Malpass, and international bankers, who are interested in financing the climate issues, are expected to take part in the Finance Day, Maait said.
The Finance Day will include 17 sessions for high-level officials, to discuss mechanisms of easing the green economic recovery through incentive initiatives 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, he said.
We target reaching serious initiatives to reduce the debt burdens in the developing and African countries via boosting financing opportunities to green transition, he added.
The Finance Day will tackle the issues of the “innovative financing” and “fair transformation financing”, the role of the private sector in mobilizing financial resources and directing them to environmentally-friendly projects.
