Finance Minister Mohamed Maait stressed the importance of expanding green projects to confront climate change.

He made the remarks on Thursday during his participation in a roundtable held within the framework of the 2nd edition of Egypt International Cooperation forum (Egypt-ICF).

The minister said “what is not achieved today will be a burden in the future with high cost,” wishing the world would move to contribute to just financing.

He called on developed countries to offer financial support developing and African countries in the climate adaptation domain, thus contributing to alleviating debt burdens of emerging economies.

He noted that there is continued coordination with the Ministries of International Cooperation, Environment and Foreign Affairs to successfully introduce serious and applicable initiatives for green financing during the United Nations Climate Change Conference (COP27) – due to be held in Sharm El Sheikh in November.

He underlined the importance of finding new tools for mobilizing finance for sustainable development in Africa and promote private sector investments in the new and renewable energy resources.

Source: State Information Service Egypt