Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Mohieldin: WB, IMF to Launch $130 Tln-Financing Programs to Fund Dev't Projects

Mon 23 May 2022 | 11:45 PM
Ahmed Moamar

Dr. Mahmoud Mohieldin, Executive Director of the International Monetary Fund (IMF), the United Nations Special Envoy for Financing the 2030 Agenda, said that the world is currently going through the fourth stage of the deficit in financing sustainable development, and it is the most difficult stage the world has gone through throughout history because of what the world witnessed, whether it was the Corona pandemic and the war between Russia and Ukraine.

Dr. Mohieldin added that the World Bank (WB) and the IMF will launch a $130 trillion financing program to confront climate change, which will be launched worldwide.

This came during the opening of the activities of the International Conference on Alternative Financing Opportunities in Egypt: Towards Sustainable Financing for Development, held in cooperation between the Ministries of Planning and Economic and Financial Development and the Macroeconomic Reform and Stability Project funded by the US Agency for International Development.