IMF calls for strong support for Egypt during its hosting of COP27

CAIRO - 13 March 2022: The Executive Director of the International Monetary Fund (IMF), Mahmoud Mohieldin, stressed the importance of supporting Egypt strongly during its preparations to host the 27th United Nations Climate Change Conference (COP27), especially since this summit is being held in exceptional global circumstances.

This came in a video conference during the graduation ceremony of the first batch of the "Be an Ambassador for Sustainable Development" initiative and the launch of the Road to the Cop27 initiative, in the presence of the Ministers of Planning, Economic Development, Environment, Immigration and Egyptians Abroad Affairs, the Governors of Cairo, Giza, Qalyubia, Beni Suef and the Executive Director For the National Training Academy.

Mohieldin expressed his appreciation for the "Be an Ambassador" initiative, which is being implemented by the Ministry of Planning and Economic Development in cooperation with the National Institute for Governance and Sustainable Development, expressing his appreciation for the approach that was prepared to qualify the participants in the initiative to obtain the highest levels of knowledge of sustainable development and its challenges. He added that there is a strong link between sustainable development and climate change.

Mohieldin added that climate change must be put into a comprehensive and integrated approach, as there are considerations to deal with these changes, and not to isolate them from each other, pointing out that there is an interest in investing in information, knowledge and data.

Mohieldin explained that there is also the issue of financing and what is related to it, whether public or private, locally or externally, and there are considerations related to the relationship of international trade with achieving sustainable development goals, and the extent to which it is affected by climate change.

He also stressed the importance of good investment in infrastructure, including investment in energy, investment in people, dealing with various challenges, and investing in the ability of the economy and society to face various climate-related shocks, with considerations related to resilience and endurance.

Mohieldin stressed that what we want now while Egypt is preparing strongly to host the 27th Climate Summit is that the graduates of the initiative work through their communities and their working environment to support this summit, which is being held in exceptional global circumstances, calling on those who have the ability to help in terms of providing solutions or ideas in the areas of finance to Share these ideas on a local, regional or global level.