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The minister of finance, Mohamed Moait, emphasised that the global financial system was no longer a friend of emerging markets because accessing international markets to finance developing countries’ needs had become “very expensive.” He added that we look forward to the “multilateral development” banks supporting emerging economies, particularly in light of the interconnected global challenges that had an impact on supply and supply chains and raised the cost of financing, and
The minister said, in several separate meetings with representatives of the HSBC banks, the “euro Claire” and “B. that. with me. “Euromney,” Pariba, and “with me is E.
In addition to attending the meetings of the International Monetary Fund and the World Bank, C “and “Emirates Dubai National” stated that it is essential to ensure the availability of soft green funds for developing nations that meet sustainable development objectives and support a just transition to low-emission development with creative financing mechanisms, most notably green and blue bonds, calling international financing institutions, and multilateral d
The minister went on to say that by adopting policies, plans, and successful initiatives aimed at a variety of climate change adaptation projects and mitigating their effects, global banks are the largest supporters of the transition to a green economy. He emphasised the need for collaboration to overcome development financing challenges, particularly in light of the current circumstances that cast a shadow over World economies.
The minister stated that we are making great efforts to draw in environmentally friendly investments, including those in the “manufacture of electric cars or natural gas, solar energy, green hydrogen, desalination of sea water, and power generation from wind,” and that we are eager to diversify the sources and tools of financing between the issuance of Green bonds, Samurai bonds, and Panda bonds. We also intend to issue sustainable development bonds with a social component.
The Minister noted that the value of Egyptian exports increased by 36% in the first half of 2022, demonstrating that we are on the right track to achieve the goal of 100 billion dollars annually. He also noted that the transfers of Egyptians working abroad underwent a remarkable change over the previous five years, demonstrating their confidence in the Egyptian economy.
The minister emphasised that we are working to increase the private sector’s involvement in important fields through the “State Royal Policy Document,” which is a road map for the future that creates robust market organising mechanisms, opens up new investment horizons, and offers gold investment opportunities in promising industries.
A must.. Mohamed Moait: We are on the right path to achieve a dream of $ 100 billion in exports
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