At G20 Summit in New Delhi, Egypt’s Sisi calls on reinforcing role of global institutions in responding to crises, challenges

CAIRO – 9 September 2023: In his speech in the opening session of the 18th Heads of State and Government Summit of the Group of 20 (G20) in New Delhi, India, President Abdel Fattah El Sisi called for a comprehensive approach to formulate future arrangements and reinforcing the role of international institutions in an effective response to crises and challenges.

President Sisi expressed hope for this summit to produce a strong message, commensurate with the magnitude of the responsibility the world leaders bear to achieve the aspirations of our people, congratulating India on the successful landing on the moon.

The president also expressed Egypt’s welcome of the African Union’s well-deserved admission to the G20 group’s membership.

Sisi as the Chairperson of the AUDA-NEPAD Heads of State and Government Orientation Committee, said that he has been in consultation with African leaders for promoting continental economic integration; accelerating the implementation of Africa Agenda for Development; effectuating The African Continental Free Trade Area (AfCFTA) Agreement; mobilizing resources for priority areas, including infrastructure, energy, communications and food security; and addressing the continent’s debt crisis.

“All of this shall enhance the continent’s ability to contribute to the global order, politically and economically, so as to achieve stability and strengthen the ability to address global challenges,” Sisi said.

“Achieving our common goals, amid unprecedented challenges facing us today, requires a comprehensive approach to formulate future arrangements, revolving around a multilateral order and based on the purposes of the UN Charter, the rules of international law,” the Egyptian President added.

“The role of the G20 is at the forefront, notably in addressing imbalances in the global financial structure, developing international financing institutions, and providing durable solutions for structural problems facing developing countries. These problems include, in particular, the growing debt; the diminishing effectiveness of development aid and the challenging conditions for obtaining it; the widening financing gap to achieve sustainable development; and the just transition to low-carbon economy,” Sisi continued.

As to Egypt’s current presidency of the 27th round of the Climate Change Conference that was held in Sharm El Sheikh in November 2022, Egypt has succeeded in restoring the balance to the Global Climate Action Agenda, particularly by including the idea of ‘Just Transition’ to a Green Economy and by calling for the establishment of a fund to address climate losses and damages (The Loss and Damage Fund), Sisi said.

To face the challenge posed by climate change, Sisi called upon all parties to assume their responsibilities, based on the two principles of "Shared but Differentiated Responsibility" and "Equity", and to implement the resolutions adopted. “Otherwise, trust will be lost and the multilateral action system will collapse,” he said

“As to our efforts to contain the energy crisis, Egypt has announced, on the sidelines of the Sharm El Sheikh conference, the launch of an international forum to finance green hydrogen projects, as the fuel of the future. This is, in addition to taking steps to turn Egypt into a regional hub for energy trade, by hosting ‘The Eastern Mediterranean Gas Forum’ (EMGF), which contributes to enhancing the stability of the energy market,” added President Sisi.

With regard to addressing the food crisis, Egypt has recently announced its readiness to host a global hub for grain storage and handling, in collaboration with development partners, President Sisi added, saying “This shall integrate with joint efforts to address this challenge, and support the international multilateral action system.”

President Sisi hoped that the summit can contribute to taking decisive steps towards these challenges to prevent economic recovery and achieve sustainable development.