Ahmed Kouchouk, Egypt's Minister of Finance, stated that climate finance must become fairer for emerging economies and more closely aligned with national development priorities. Speaking at a meeting of finance ministers during the Climate Conference in Brazil, he emphasized Egypt's support for expanding the use of guarantees and blended-risk structures to unlock private capital. He also expressed backing for re-channelling Special Drawing Rights through multilateral development banks.
Ahmed Kouchouk, Egypt's Minister of Finance, spoke at a meeting of finance ministers on the sidelines of the Climate Conference in Brazil, where he emphasized the importance of fully leveraging the capacity of multilateral development banks to mobilize private investment and support the implementation of climate-related projects. He stressed the need to reduce the cost of green finance for climate-resilient infrastructure to close the global financing gap.
Kouchouk supported efforts to expand debt-for-climate and debt-for-development swaps, and to increase investments in developing and emerging economies. He underscored that debt and development challenges must be addressed together, calling for the temporary and automatic suspension of debt-service payments following major climate shocks.
Kouchouk noted that Egypt is working to integrate climate action with economic growth and inclusive development, while taking social dimensions into account. He said: "No country can solely carry the high costs of the climate transition amid rising debt burdens." He affirmed Egypt’s readiness to continue working with international partners, multilateral development banks, and the private sector to advance the path toward a green transition.
Kouchouk looks forward to reforming the global financial architecture and sharing risks more equitably among multilateral development banks. He highlighted Egypt’s bold steps, including updating its sustainable sovereign financing framework, issuing the Middle East and North Africa’s first sovereign green bond, launching Africa’s first voluntary carbon market to support emissions mitigation, and establishing the NWFE platform to align national investment priorities with the work of multilateral development banks.
Egypt continues to strengthen private-sector participation in renewable energy, water desalination, sustainable transport, and waste management projects—mobilizing private capital and technology while maintaining financial sustainability. The strong expansion in the share of electricity generated from new and renewable sources demonstrates Egypt’s ability to attract private investment in support of its climate agenda and emissions-reduction goals.