Egypt attends ESCWA meeting on ‘Debt Swap Initiative for Climate Finance and SDGs in Arab Region’
- Date: 24-Dec-2020
- Source: Egypt Today
- Sector:Financial Markets
- Country:Egypt
Egypt attends ESCWA meeting on ‘Debt Swap Initiative for Climate Finance and SDGs in Arab Region’
ESCWA logo - Official website
CAIRO - 22 December 2020: The Ministry of Planning and Economic Development, represented by Dr. Ahmed Kamali, Deputy Minister of Planning, attended a meeting by the United Nations Economic and Social Commission for Western Asia (ESCWA) on the "Debt Swap Initiative for Climate Finance and the Sustainable Development Goals in the Arab Region", via video conference.
Kamali referred to the importance of the debt swap initiative, especially in light of the increase in the global financial gap as a result of the Covid-19 crisis, especially in developing and emerging economies. He noted that Egypt has formed a public debt management committee to evaluate foreign loan offers and monitor the debt situation.
The official highlighted that debt swap is an effective measure to reduce the debt burden on countries and at the same time achieve sustainable development goals, indicating that debts can
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