Egyptian Finance Minister Mohamed Maeet stressed the importance of developing the global financial structure to boost the development path of emerging countries and speed up economic recovery.
During a session, titled “Global Financial Structure”, held on the sidelines of meetings of the Group of 20 nations in India, the minister stressed the necessity of intensifying international efforts to develop the policies and practices of global banks and multilateral development banks to provide additional innovative and concessional financial resources.
These resources will help reduce the burden of financing for sustainable development and the negative impacts of climate change in developing and African countries in a way that maximises co-operation efforts between governments, financial institutions and development partners, the minister added.
