We look forward to a greater role for international institutions in providing affordable green finance to support sustainable development in developing countries

Mr. Ahmed Kouchouk, Minister of Finance, affirmed that developing countries are looking forward to a stronger and more effective role from international institutions in providing affordable green finance to drive sustainable development. He emphasized the importance of establishing a clear financing pathway over the next five years from advanced economies and international institutions to support climate transition efforts.

 

Speaking at a high-level ministerial session on climate finance held in Brazil, Kouchouk stressed the need to honor climate commitments and simplify the procedures required for low- and middle-income countries to access climate finance, in order to accelerate the implementation of climate projects.

 

He pointed to the importance of mobilizing innovative financing sources and expanding blended finance mechanisms to reduce risks and enhance private investment flows. The Minister also highlighted the need to broaden the scope of concessional financing and reduce climate-investment risks through multilateral development banks.

 

Kouchouk noted that developing countries are seeking to design scalable, finance-ready green and development projects that enable them to lead climate action effectively.

 

He concluded: “We still have substantial work ahead to secure the climate finance needed to meet the objectives of the Paris Agreement.”