Speaking at a high-level ministerial session on climate
finance in Brazil, Kouchouk stated that climate commitments must be fulfilled
and access to finance for low- and middle-income countries streamlined. He
highlighted the need to mobilize innovative financing sources and expand
blended finance to reduce risks and encourage private investment.
He added that concessional finance should be broadened and
climate investment risks mitigated through multilateral development banks. He
stressed that Egypt aims to design large-scale, bankable green and development
projects to empower developing countries to lead climate action.
The minister concluded that significant efforts are still
required to secure the necessary climate finance within the framework of the
Paris Agreement.