Egypt's Prime Minister Moustafa Madbouly on Saturday urged G20 nations to scale up financing as well as urgent and coordinated action to confront global shocks ranging from climate change and food insecurity to mounting debt and rising geopolitical tensions. Speaking on behalf of President Abdel Fattah El-Sisi at the G20 Summit in Johannesburg, Madbouly said developing countries need greater access to concessional finance, technology transfer and capacity-building to accelerate climate action and ensure a just transition. Madbouly cited Egypt's COP27 outcome, including the creation of the Loss and Damage Fund, and called for stronger multilateral development banks with expanded lending firepower. He pressed advanced economies to deliver on climate-finance pledges and help unlock investment opportunities in emerging markets. He also pointed to Egypt's initiatives to curb food insecurity, noting that Cairo will host the third G20 Food Security Working Group meeting in September 2025. Madbouly said the G20 is uniquely positioned to boost development financing, narrow the digital divide and support developing economies in adopting new technologies — including artificial intelligence — to keep progress towards global development goals on track through 2030. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
