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The Minister of Finance and the Director of the IMF discuss the transition to a green economy on the sidelines of Cop27


During the activities of the Climate Summit currently being held in Sharm El-Sheikh; The meeting was held by Dr. Mohamed Maait, Minister of Finance, and Kristalina Georgieva, Director of the International Monetary Fund, with the participation of Fabio Natalesi, Deputy Director of the Fund and Dutch Minister of Finance, where the session discussed the transformation of the green economy and how to increase the volume of investments in this sector.

The Director of the International Monetary Fund stressed the importance of taking serious steps to transform the market and the green economy, noting that this is not an easy thing, as it requires a lot of effort and work and will only be done with a wide participation of the private sector.

She added: “We gather here to turn to actions and actions on the ground, and for our part in the fund we support the transition to a green economy and support countries to fulfill the obligations and requirements of the transition to a green economy.”

Egypt will host the Cop27 Climate Summit in Sharm El-Sheikh, from 6 to 18 November, which is considered the largest and most important summit in the world, to discuss the fate of the planet and save it from deterioration and collapse. of the devastating effects of climate change, and contribute to saving humanity.

The Conference of the Parties (COP27) is witnessing a wide international participation from different parts of the world, where more than 120 state leaders, and representatives from about 197 countries, with nearly 40,000 participants from around the world, and dozens of international and regional organizations, participate in the annual negotiations on climate change, With the aim of discussing moving forward in limiting the negative effects of climate change and adapting to its repercussions, the summit also enjoys extensive global media coverage with the presence of more than 3,000 media professionals who follow the activities of the summit in all languages ​​of the world.

Egypt, which over the past years has strengthened its plans towards adapting to the negative effects of climate change as it constitutes an existential threat, is seeking to create an atmosphere to urge all parties to enhance mutual trust through which the results that people aspire to be achieved in terms of facing the climate change crisis and avoiding its devastating catastrophes. .

The Cop27 conference is concerned with enhancing the regional and local dimensions of climate action through two unprecedented initiatives, namely the initiative of the five regional forums that were carried out in coordination with the United Nations and resulted in about 400 regional projects worldwide, 60 of which will be presented during the Sharm El-Sheikh conference to start their actual implementation. And the Smart Green Projects initiative launched by the Egyptian government, and its results will be presented during the conference as a model for the settlement of development and climate action.

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