Arab FinanceDr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, participated as a keynote speaker in the discussion session within the activities of the Hamburg Sustainability Conference, held in the German city of Hamburg, under the title “Expanding the scope of joint impact… How can multilateral development banks support transformation through… National platforms, according to what he mentioned statement cabinet.
The initiative stresses the need to restructure international financial institutions and increase capital flows to achieve sustainable development goals, pointing to the Future Summit Charter, which was adopted during the Future Summit on the sidelines of the 79th session of the United Nations General Assembly, which includes political measures to reform the international financial structure. It also highlighted the innovative co-financing platform launched by 10 development banks, including: the African Development Bank, the European Bank for Reconstruction and Development, and the World Bank Group, with the aim of directing additional capital, expanding the scope and impact of development, and mobilizing funds for major projects, within the framework of unifying development efforts. With regard to concessional development financing and reform of the scientific financial structure.
The Minister of Planning, Economic Development and International Cooperation stressed the importance of expanding quantitative and qualitative financing for developing and emerging countries, and strengthening tripartite cooperation between countries and multilateral development banks, to share knowledge, expertise and development experiences, in a way that accelerates the pace of development and climate action.
She noted that the concept of national platforms began years ago in discussions during the G20, and at the climate summit in Glasgow, which served as a turning point for focusing on these platforms, pointing out that Egypt launched the national platform for the “Novi” program during the COP27 climate conference, which is a practical translation of the national strategy. climate change by 2050, through projects that attract investments in the fields of energy, water and food.
She also referred to the efforts undertaken by the state to enhance technical cooperation with other countries within the framework of South-South cooperation to transfer its experiences in the field of national platforms, as that experience was implemented through technical support to the state of Tanzania, referring to the Sharm El-Sheikh Guide for Fair Financing, which was launched during Egypt's presidency of the twenty-seventh climate conference COP27. Which includes 12 main principles to strengthen partnerships, support climate action, and promote the green transition.
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