Prime Minister Mostafa Madbouli underlined the importance of holding the UN Climate Conference (COP27) in light of the current global economic crisis.

The premier’s remarks were made during his meeting on Monday with a number of banks’ CEOs and senior officials and chiefs of national companies participating in COP27.

Minister of Finance Mohamed Maait, Assistant Foreign Minister for Economic Affairs Ambassador Ashraf Ibrahim and First Assistant to Finance Minister Sherin El Sharqawi attended the meeting.

The premier said COP27, to be held in Sharm El Sheikh in November, acquires great importance as it will discuss on a wider scale means of implementing the pledges made during Glasgow conference (COP26) concerning the decrease of carbon emissions along with exploring means of enhancing cooperation among the various countries on climate action.

The premier said a large number of heads of state and governments, senior officials at major international companies and foundations will attend the conference, providing a big chance for the Egyptian government to promote its projects and push forward cooperation with development partners.

Maait, for his part, noted that a number of privileges will be given to companies willing to sponsor the conference proceedings, noting that sponsorship rights will be available on the conference’s website www.cop27.eg.

Special financial committees tasked with preparations for COP27 will assess applications filed by companies to sponsor the conference and assess if such companies comply with the necessary requirements, Maait added.

Meanwhile, Chairman of the Federation of Egyptian Banks Mohamed El Etreby said several coordination meetings will be held as regards COP27, asserting that full support and care will be given to render the conference a success and that the Egyptian state is capable of organizing such international events.

Source: State Information Service Egypt