Egyptian Foreign Minister Sameh Shoukry is shown on the screen as he speaks during sidelines of G20 Foreign Ministers Meeting in Rio de Janeiro city in Brazil on Thursday 22 Febraury, 2024. Photo courtesy of Foreign Ministry.
Shoukry was speaking during a session themed ‘Reforming Global Governance’ on the sidelines of the G20 Foreign Ministers' Meeting in Rio de Janeiro in Brazil.
Shoukry highlighted the challenges facing developing countries, notably poverty, urging for reforms to the global financial system.
Such reforms, he added, should address climate change issues as being a complementary part and not a replacement for the achievement of sustainable development, according to a statement by the foreign ministry.
He also called for scaling up financing, facilitating access to it and relying on grants and soft financing tools.
Egypt’s top diplomat stressed the need to establish comprehensive and active mechanisms to help the developing countries deal with debt burden.
He pointed to the possibility of boosting international cooperation in debt-for-nature conservation, noted the statement.
He also highlighted several alarming indicators regarding climate change, including the widening gap in climate financing, especially for adaptation, and the expansion of fossil fuel exploration and production, particularly coal.
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