The high cost of financing remains the biggest obstacle to sustainable development initiatives and programs in developing and African countries

We look forward to a more equitable global economic system that is responsive to the financing and development needs of African countries

There shall be a more flexible global framework for innovative financing to make significant financial resources available at lower cost and on concessional terms to emerging economies

International challenges and climate change have added pressure burdens. Innovative financing tools should be considered to reduce the burdens on emerging countries, including converting debt into investments

It is important to expand the use of guarantees and other tools  to reduce the costs of development financing for developing countries

Egypt is keen to diversify financing instruments and markets to expand the investor base and reduce debt burdens

We have a good experience in Asian markets after our success in issuing panda and samurai bonds

We are working to build a relationship of "trust and partnership" with the business community to expand the tax base and improve the services provided to taxpayers

The first package of tax facilities drives the State's efforts to reduce the financial burdens on investors

 

Ahmed Kouchouk, Minister of Finance, stressed that achieving sustainable development requires huge budgets, and this needs everyone to join hands to achieve tangible results, explaining that the high cost of financing remains the biggest obstacle to sustainable development initiatives and programs in developing and African countries.

 

At the eighth session of the meeting of government and finance and development experts at UNCTAD headquarters in Geneva, the Minister said that we look forward to a more equitable and responsive global economic system  to the financing and development needs of African countries, pointing out that there shall be a more flexible global framework for innovative financing to provide large financial resources at lower cost and on favourable terms for emerging economies.

 

The Minister added that international challenges and climate change have added pressure burdens, and innovative financing tools should be considered to reduce the burdens on emerging countries, including converting debt into investments, pointing out that it is important to expand the use of guarantees and other tools to reduce the costs of development financing for developing countries.

 

The Minister explained that Egypt is keen on diversifying financing tools and markets to expand the investor base and reduce debt burdens, and that we have a good experience in the Asian markets after our success in offering panda and samurai bonds, pointing out that we are working to build a relationship of "trust and partnership" with the business community to expand the tax base and improve the services provided to taxpayers, and that the first package of tax facilities pushes the State's efforts to reduce the financial burdens on investors.