Both ministers agreed during their meeting in Athens on Tuesday, that a periodic dialogue will be implemented to discuss finance policies and mechanisms to develop technical cooperation between both countries, the statement added.

Maait also stated that Egypt and Greece are also expanding cooperation on electricity interconnection.

He noted that Greece could be a gateway for Egypt’s green energy exports to Europe, especially at a time when Cairo is adopting a policy of expanding clean energy production, including green hydrogen.

Staikouras expressed his country’s readiness to support the Sustainable Debt Coalition initiative that was launched by Egypt during the 27th edition of the UN Climate Change Conference (COP27) in Sharm El-Sheikh last November.

Maait announced that the government is looking forward to officially launching the Sustainable Debt Alliance in Egypt by September 2023.

He revealed that 20 countries are willing to join the debt-for-climate swap initiative at a time when 43 percent of African and low-income countries suffer from a debt crisis due factors including COVID-19, monetary tightening in developed markets and higher costs of food and energy.

In addition, Greece's finance minister looks forward to activating the agreement on the employment of seasonal workers in the agricultural sector signed by the two countries’ foreign ministries to open the way for Egyptian citizens to legally work in Greece.