Egypt's Finance Minister Ahmed Kouchouk called on Sunday for a stronger role for the BRICS group in developing innovative solutions to the global debt crisis, particularly for middle-income countries. He emphasised that BRICS nations are well-positioned to collaborate with other international stakeholders to advance mechanisms such as debt-for-investment swaps and other creative financing tools to bolster development efforts. Speaking during the official session of the BRICS Finance Ministers and Central Bank Governors' meeting held in Rio de Janeiro, Brazil, Kouchouk highlighted the urgent need to reinforce the principles of global economic multilateralism as a foundation for more inclusive and sustainable growth. "We hope to see deeper economic cooperation among BRICS countries to help absorb the impact of global shocks, especially as emerging markets continue to suffer from rising tariffs and persistent uncertainty," he stated. The minister underscored the importance of expanding concessional financing options to support priority sectors including infrastructure, renewable energy, and digital transformation. He stressed that BRICS can play a pivotal role in promoting a more equitable and balanced international economic order. Kouchouk reiterated Egypt's support for robust public-private partnerships as a key mechanism for achieving its national development goals. He also affirmed Egypt's commitment to enhancing cooperation and knowledge-sharing among BRICS members to improve climate risk resilience and long-term sustainability. He further highlighted the newly launched investment platform as a promising initiative to mobilise private and blended capital for strategic development projects, particularly those aligned with climate, energy, and infrastructure objectives.
