The Egyptian Finance Minister, Mohamed Moait, confirmed that Egypt is counting a lot on the United States of America’s support for the climate issue.
The Egyptian minister explained during his meeting with Alexia Latorto, Assistant Secretary of the American Treasury for International Trade and Development, and Daniel Robinstein, the Chargé d’Affaires of the American Ambassador in Cairo, on the sidelines of their participation in the climate summit in Sharm El -Sheikh, explained that Egypt is counting on providing the necessary funding for African countries to reduce the negative effects of changes Climate, especially in light of the acute global economy suffering from the global inflationary wave resulting from the Corona and War virus in Ukraine, led to an increase in the prices of basic commodities and fuel, due to the disturbance of supply and supply chains, and the increase in financing costs.
Moait pointed to the strength and depth of the economic relations that bring together the two countries in various fields, and witnessed remarkable progress during the last period.
He also stressed the importance of increasing the role of multi -party development banks, in providing funding with facilitated facilities for emerging and African countries in light of the global economic crisis, especially since the soft green financing available so far still does not meet the great development needs of African countries.
US President Joe Biden has announced $ 500 million to help Egypt convert to clean energy, in cooperation with the European Union.
The President of the United States of America indicated during the climate summit, that the world does not need new technology and digital transformation, but needs to preserve forests and develop trees, stressing that the major countries must stand beside the developing countries in the face of climate change, declaring the provision of $ 150 million To support African countries in facing climate change.
Source: RT.
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