Egypt’s Al Mashat advocates systemic financial reforms for 2030 Agenda

Egypt’s Minister of International Co-operation, Rania Al-Mashat, stressed the importance of collective action in tackling environmental challenges.

She also highlighted the critical need for systemic financial reforms to address the substantial $4.2 trillion financing gap required to achieve the ambitious 2030 Agenda.

Addressing the annual meeting of the Council of Arab Finance Ministers in Cairo on Wednesday, she commended the Arab Coordination Group’s initiative to allocate $24 billion to member states for climate crisis mitigation by 2030, emphasising the region’s commitment to global climate efforts.

She praised Arab financial institutions for their pivotal role in driving inclusive development through intra-Arab co-operation, citing their contributions to transformative projects and sustainable growth models.

The collaboration between Egypt and Arab financial entities has emerged as a shining example of effective cooperation. Notably, this partnership has significantly influenced the financing of the national program for the development of the Sinai Peninsula, establishing a precedent for successful regional collaboration.

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