Sisi to focus on boosting developing countries access to financial flaws

Egypt’s President Abdel Fattal El Sisi has left for Paris on Wednesday to take part in the Summit for a New Global Financing Pact, which kicks off in the French capital today.

President Sisi’s participation in the major two-day summit comes upon invitation from French President Emmanuel Macron, in light of the close and growing strategic relations between Egypt and France, as well as Egypt’s active role at the level of emerging economies, Presidency Spokesman Ahmed Fahmy said.

This role contributes to further boosting international initiatives aiming at backing developing and underdeveloped countries, and streamlining their access to the necessary financing needed to face the economic repercussions of the back-to-back global challenges, namely climate change, the coronavirus pandemic, the Russia-Ukraine crisis, and the subsequent crises of energy, food and supply chains, Fahmy explained.

The summit will seek to cement international co-operation aiming to formulate appropriate mechanisms to provide the necessary financing for achieving the aspired sustainable development in these countries, the spokesman said.

President Sisi is determined to focus during the Paris summit on various issues of prime concern to the developing nations, pertaining to bolstering the international efforts to facilitate their access to the required financial flaws amid the challenges they suffer as a result of the escalating global crises, the spokesman said.

The president will also reiterate the necessity of offering the developing states active support to help them achieve the 2030 Sustainable Development Goals (SDGs). This will include the advanced countries’ commitments to honour their pledges in line with the Paris Agreement.

President Sisi will shed light on the major aspects of Egypt’s presidency of the UN Climate Change Conference (COP27), which was held in Sharm el-Sheikh last November, as well as the key achievements of that summit.

He will also address Egypt’s national experience in facing climate change and the expansion of renewable energy, Fahmy noted.

The president’s agenda in Paris also includes holding meetings with French and global leaders and senior officials, on the means of pushing ahead the frameworks of bilateral co-operation, as well as consulting on various regional and international issues of common concern.