The Minister of International Cooperation joins the Steering Committee of the “Resilience Coalition” at the WEF Forum

Dr. Rania Al-Mashat, Minister of International Cooperation, joined the Steering Committee of the Resilience Coalition of the World Economic Forum WEF, as part of the activities of the 77th session of the United Nations General Assembly in New York.

The Resilience Coalition, launched by the World Economic Forum, brings together ministers, CEOs and heads of international financial institutions, in order to accelerate the pace of joint action to enhance the resilience and resilience of the global economy, and provides an opportunity for business leaders to participate in a coordinated global effort to develop a more in-depth perspective to enhance resilience, and support The ability of corporate organizations to better understand, predict, prepare for, and respond to future disruptions.

The meeting included, along with Minister of International Cooperation, Isobel Coleman, Deputy Administrator of the US Agency for International Development, Karen Holshof, Executive Vice President of UNICEF, Borg Brende, President of the World Economic Forum, Greg Baxter, Managing Director of Gulf International Bank, and Sven Touer-Holster, President of Gulf International Bank. Norwegian International Yara, Paula Ingabier, Minister of Communications and Information Technology of Rwanda, and other representatives of governments, international financial organizations and the private sector.

In her speech during the meeting, the Minister of International Cooperation stressed the need for all institutions, societies and economies to have the necessary flexibility to enable them to bear risks and deal with future developments, pointing out that the world has gone through successive shocks since 2020, stressing the need to coordinate cooperation at all levels between international financial institutions and institutions. The public and private sectors in order to enhance resilience in the face of future shocks.

Al-Mashat pointed to the convening of the COP27 climate conference in Egypt, at the end of this year, which sets among its main objectives stimulating projects to adapt to climate changes in a way that enhances the ability of economies to withstand the negative repercussions of climate changes, noting the importance of the world mobilizing its efforts to support countries Developing and emerging economies, especially in Africa, and providing the necessary funding to expand adaptation projects to climate change.

She stressed that financing is the main challenge facing emerging countries to expand projects to adapt to climate changes in a way that enhances the resilience of their economies in the face of the future repercussions of climate changes. projects, in a way that opens the way for the private sector to cooperate closely with governments by pumping investments for projects that enhance countries’ adaptation to climate changes.

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She pointed out that according to current estimates, 98% of the funding available for adaptation projects comes from the public resources of governments, while only 2% comes from the private sector, which shows the large gap in the funding available for this type of projects.

It is worth noting that the Resilience Coalition seeks to develop a joint framework to enhance the resilience of business organizations from the public and private sectors to help them achieve inclusive and sustainable growth, and provide a framework that develops the capabilities of these institutions, as well as discussing potential partnerships between the public and private sectors to build more societies and economies. Flexibility and resilience, prioritizing investments and solutions that help mitigate future risks.

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The coalition also enhances the use of leaders in the public and private sectors in order to enhance societal awareness of the importance of adopting the concept of risk prediction and flexibility, and work to create long-term value based on an accurate understanding of future risks, through joint projects, research, surveys and interviews, which enhance flexibility and enhance the agenda. Initiatives aimed at enhancing cooperation between relevant parties from the public and private sectors to support the coalition.

A facilitating committee was formed for the committee, whose members include the Ministry of International Cooperation, Gulf International Bank, McKinsey, the UAE Ministry of Climate Change and Environment, the Saudi Ministry of Finance, the Ministry of Communications and Information Technology of Rwanda, Swiss Reinsurance Company, UNICEF, Norwegian Yarat, AstraZeneca and Manulife. .

Rania Al-Mashat, Minister of International Cooperation, is participating in the meetings of the 77th session of the United Nations General Assembly, which is being held in New York, under the slogan “Solutions through Solidarity, Sustainability and Science”, amid unprecedented global repercussions due to the Russian-Ukrainian crisis, and the economic effects of the Corona pandemic, where she discusses The meetings dealt with a number of important issues that concern the international community, on top of which are food insecurity, the energy price crisis, and global supply chain disruptions.

It is worth noting that the Ministry of International Cooperation, in cooperation with the Ministries of Foreign Affairs, Finance and Environment, and the United Nations Economic Commission for Africa, organized the Egypt-ICF2022 Forum, in its second edition, and the meeting of African Ministers of Economy, Finance and Environment, under the auspices and presence of President Abdel Fattah Sisi, where he witnessed a high-level international and regional presence from United Nations organizations, heads of international financial institutions, and the private sector. With the participation of more than 23 African governments, about 20 discussion sessions, workshops and round tables were held on unifying messages and visions, to mobilize the efforts of the international community to support the climate agenda in the continent of Africa, and to prepare for the “Finance Day”.

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