DAKAR - 16 May 2022: Egypt has over the past period diversified its sources of financing, especially the green loans, in order to meet the development needs, affirmed Finance Minister Mohamed Maait. At that time, the African countries attained suitable growth rates, the minister went on to say. Back in 2019, the inflation and interest rates were down and thus it was easy to obtain loans, he added, noting that unlike today the inflation and interest rates are high and the risks are also high. Even the hot capital has flown out of the developing countries, noted the minister. The minister further said that the financial market should reduce interest on loans for the countries which step up their transition to clean energy.
Source: Egypt Today May 17, 2022 22:45 UTC