Minister of Foreign Affairs Badr Abdelatty has called on the BRICS group to play a pivotal role in reforming the international financial structure and providing adequate funding to developing nations.
Abdelatty made his remarks in a meeting on Thursday with the BRICS foreign ministers on the sidelines of high-level meetings of the 79th session of the United Nations General Assembly (UNGA).
The foreign minister emphasized the need for international financial institutions and development banks to have adequate, equitable, and responsive financing capacities to meet the needs of developing countries.
He also advocated for greater representation of developing nations in global economic decision-making processes, a statement by the Egyptian Ministry of Foreign Affairs noted.
Abdelatty urged the BRICS group to advocate for a more sustainable international debt structure and provide the necessary financing to achieve the Sustainable Development Goals (SDGs) in developing nations.
This could be achieved through
grants, concessional financing, technology transfer, and capacity building, according to Abdelatty.
The top diplomat highlighted the current challenges facing countries of the bloc, including geopolitical tensions, threats to peace and security, economic crises, high debt levels, climate change, and ongoing crises in the Middle East and the Arab region.
He condemned the war on Gaza in the strongest terms, saying Israel’s aggression has led to the loss of thousands of innocent lives, widespread destruction, and regional instability.
He added the Israeli war affected the security of international shipping routes, noted the statement.
He emphasized Egypt’s demand for an immediate ceasefire and Israel’s adherence to international humanitarian law, insisting on the protection of civilians as an occupying power.
He called for unhindered access to humanitarian aid in Gaza while pointing to the Israeli ongoing violations in the West Bank and Jerusalem.
Abdelatty warned of the conflict’s potential expansion due
to the dangerous escalation in Lebanon, where Israel has killed and injured thousands in recent days.
He warned that this escalation could drag the region into a wide regional conflict, stressing the urgent need to halt violations of Lebanese territorial and air sovereignty.
Source: State Information Service Egypt