Rio de janeiro: Finance Minister Ahmed Kouchouk emphasized the importance of utilizing the capabilities of multilateral development banks to attract private investment and offer crucial support for climate-related initiatives.

According to State Information Service Egypt, Kouchouk advocated for lowering the cost of green financing for resilient infrastructure investments to bridge the gap in climate financing. Addressing a gathering of finance ministers at the 2025 United Nations Climate Change Conference (COP 30) in Brazil, he stated that Egypt is in favor of expanding guarantees, blended-risk structures, and hedging tools to unlock private capital. Additionally, he supported reallocating Special Drawing Rights (SDRs) through multilateral development banks to reduce financing costs and extend maturities.

Kouchouk also expressed Egypt's backing for increasing debt-for-climate and debt-for-development swaps in developing and emerging economies, highlighting the necessity of addressing debt and development challenges simultaneously. He proposed the implementation of an automatic temporary suspension of debt service following significant climate shocks.

Furthermore, Kouchouk outlined Egypt's efforts to implement solutions that integrate climate action with inclusive growth and development, taking into account social considerations. He underscored Egypt's dedication to reforming the global financial architecture and enhancing risk-sharing among multilateral development banks.