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Editor in Chief Mohamed Wadie

Shoukry Stresses Importance of Providing Necessary Financing to Green Economy

Fri 02 Dec 2022 | 06:17 PM
Taarek Refaat

Foreign Minister Sameh Shoukry stressed on Friday the importance of providing the necessary financing to support the green economy sectors and facing the challenges emanating from the threats of climate change; to ensure staying on the right track in the climate action framework.

Ahmed Abu Zaid, the official spokesperson for the Ministry of Foreign Affairs stated that the minister participated this morning in the opening of the 8th edition of the Rome MED Dialogues Forum, chaired by Italian President Sergio Mattarella, and with the participation of the President of Niger and a number of ministers of Mediterranean countries, within the framework of an exchange of Visions on ways to achieve regional balance and strengthen economic partnerships between Mediterranean countries in facing common challenges to achieve security, stability and prosperity in the region.

The Spokesman indicated that the activities of the forum included holding a session dedicated to dialogue with Sameh Shoukry to get acquainted closely with the Egyptian vision towards a number of current regional and international issues.

The Minister reviewed the challenges facing Egypt in light of a changing geopolitical scene imposed by the developments it witnessed, as well as the regional scene in Libya, Iraq and the Sahel and Sahara regions, in addition to the the Palestinian cause and the future of resuming the peace process, referring to Egypt's efforts to achieve regional peace and restore security and stability in the region.

Abu Zeid added that the dialogue session also dealt extensively with reviewing the methodology of Egypt's leadership of the negotiations during the COP27 climate conference to help establish a Loss and Damage Fund in relation to climate change, and reaching a final document that achieves the interests of all parties, especially developing and African countries.

Shoukry touched on the challenges related to food and energy security, which were exacerbated by the Ukrainian crisis, stressing in this context the importance of international action to push for a political settlement to the Ukrainian crisis, and work in parallel to strengthen international mechanisms to mitigate the repercussions of this crisis on developing countries.

Shoukry also reviewed Egypt's enormous potential as a "regional energy hub" and the various cooperation frameworks with intermediate partners in this field.