OPEN// PM: Affordable finance, technology transfer essential for development
In a speech on behalf of President Abdel Fattah El Sisi at the BRICS Summit in Rio de Janeiro, Madbouli called for urgent action on global challenges, including geopolitical tensions, economic setbacks, rising debt, trade protectionism, and climate change, as well as the humanitarian crisis in Gaza.
He described Gaza as the most urgent crisis, with over 55,000 deaths and 125,000 injuries, and accused Israel of violating international law.
The premier also called for an immediate ceasefire and rejected any plans to displace Gaza's population, calling for support for the Arab-Islamic plan for Gaza's reconstruction and Egypt's planned conference on recovery.
Madbouli criticized Israeli military actions in Lebanon, Syria, and Iran, warning of growing regional risks and calling for diplomatic solutions.
Additionally, he stressed the need for stronger BRICS cooperation in energy, infrastructure, technology, and artificial intelligence, along with deeper financial coordination through local currency settlements and expanded funding by the New Development Bank.
Madbouli stressed that affordable finance and technology transfer are essential for ending poverty and achieving sustainable development.
Finally, he called for reforms in the global financial system to meet the needs of developing countries and to enhance their role in decision-making. (MENA)
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