Egypt, Greece sign MOU on launching dialogue to exchange viewpoints

Egypt’s Minister of Finance Mohamed Maeet yesterday signed a memorandum of understanding (MoU) with Greek Minister of Finance Christos Staikouras. According to the terms of the MoU, the finance ministries of finance of both countries will engage in dialogue to exchange views on financial policies and mechanisms for developing co-operation in various fields.
During their meeting in the Greek capital, Athens, the two sides reviewed the effects of the coronavirus pandemic and the war in Europe on the economies of their respective countries, global inflation, rising prices of goods and services and increasing interest rates.
The Egyptian government is keen to expand vistas of co-operation with Greece side in various fields while prospects for power interconnection between the two countries are favourable, Minister Maeet said. He added that Greece could become a gateway for Egyptian green energy exports to the rest of Europe.
Egypt is making tremendous progress in producing clean energy and green hydrogen, Maeet said.
“We are looking forward to the official launch of the Sustainable Debt Alliance in September to support green growth, address environmental challenges and encourage further green investment,” he said.
“Twenty countries have expressed a desire to join the alliance and we are hoping for real impetus to climate change action,” he added.
“We are also looking forward to strengthening the Coalition of Finance Ministers for Climate Action to build a more resilient global economic system capable of withstanding external shocks and crises, which have increased the pressure to assist emerging economies,” Maeet said.
The Greek minister welcomed Sustainable Debt Alliance, launched during Finance Day at the COP27 Climate Conference, which was held in Sharm el-Sheikh last November.
Staikouras said he was hoping for a faster pace of green recovery to mitigate the negative effects of climate change.