{"id":93534,"date":"2023-12-08T01:52:06","date_gmt":"2023-12-07T23:52:06","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=93534"},"modified":"2023-12-08T01:53:09","modified_gmt":"2023-12-07T23:53:09","slug":"mohieldin-urges-activating-debt-swaps-to-finance-climate-action-in-developing-countries","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/mohieldin-urges-activating-debt-swaps-to-finance-climate-action-in-developing-countries\/","title":{"rendered":"Mohieldin urges activating debt swaps to finance climate action in developing countries"},"content":{"rendered":"<p dir=\"ltr\" style=\"text-align: left;\">Dr. Mahmoud <a href=\"https:\/\/www.csregypt.com\/en\/mohieldin-private-sectors-participation-in-climate-action-is-necessary\/\">Mohieldin<\/a>, UN Climate Change High Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda, said that it is important to activate debt swaps as a mechanism to finance climate and development action in developing countries.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">During his participation in a session entitled &#8220;A Dialogue on the Ubuntu Initiative: Using Debt to Finance Climate Adaptation&#8221; at COP28 in Dubai, Mohieldin stated that just and effective financing of climate and development activities in developing countries entails reducing dependence on debt and adopting new policies for concessional finance.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">He explained that closing the climate finance gap in developing countries estimated at $2.4 trillion annually requires mobilizing financing from domestic resources and reforming IFIs and MDBs by increasing their capital so that they can play their role towards financing climate and development action.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Mohieldin noted the Bangladesh platform for financing mitigation and climate adaptation activities as a model for the required partnerships between governments, the private sector, IFIs and MDBs, emphasizing the need to link countries&#8217; public budgets to the SDGs.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">In a session on the &#8220;Sharm El Sheikh Adaptation Agenda&#8221;, Mohieldin stressed the need to accelerate the implementation of the agenda, whose main areas of action contribute to the implementation of a number of SDGs related to food and water security, protection of marine life, the green transition of cities and enhancing the resilience of infrastructure.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">He said that the contribution of the private sector to financing climate adaptation does not exceed 3%, confirming the need to strengthen the participation of the private sector in financing and implementing adaptation activities, and adopting technological solutions in achieving climate change adaptation goals.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Mohieldin stated that achieving climate goals requires promoting efforts at the local and regional levels to support the global effort in this regard.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">\n","protected":false},"excerpt":{"rendered":"<p>Dr. Mahmoud Mohieldin, UN Climate Change High Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda, said that it is important to activate debt swaps as a mechanism to finance climate and development action in developing countries. During his participation in a session entitled &#8220;A Dialogue on the Ubuntu Initiative: [&hellip;]<\/p>\n","protected":false},"author":410,"featured_media":93535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,13332],"tags":[6340,14312,8219],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mohieldin urges activating debt swaps to finance climate action in developing countries - Csr Egypt<\/title>\n<meta name=\"description\" content=\"Dr. Mahmoud Mohieldin said that it is important to activate debt swaps as a mechanism to finance climate and development action in developing countries.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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