The Prime Minister of Egypt Mustafa Madbuli emphasized in the performance of Egypt during the work of the seventeenth summit Brix, organized by the Brazilian capital of Rio -de -Zanero, a lot of attention that Cairo is tied to an increase in economic, financial and monetary cooperation between the groups of the group, especially among central banks and an increase in financing, provided by new development banks in local thaws.
Russia proposed during its presidency of bricks in 2024 the “clear” “BRICS” initiative in order to create a financial calculation system with a cross language based on local currencies in order to reduce depending on the US dollar and avoid Western sanctions, and this initiative is of particular importance in the light of global economic problems, including a long -term crisis related to the development of countries, which, as well as initiatives, are, as well as initiatives In relation to the receipts that are incoming on the initiatives that will be undertaken as them, as them.
The new development bank, founded by Brex in 2014, is the main tool for financing projects in local currencies, which reduces dependence on Western financial institutions such as the World Bank and the International Monetary Fund.
In his speech, Madbuli emphasized a number of priorities that are to speed up joint cooperation and integration to encounter problems through the implementation of joint projects in various sectors of the economy, including energy, production and infrastructure, as well as new technologies and innovations, especially artificial intelligence.
He emphasized that ensuring easy financing and transmitting technologies to developing countries is a prerequisite for achieving sustainable development and eliminating poverty, noting that Egypt believes that the Brics group is effectively working to improve the international debt mechanism in support of the stability of debts, in addition to supporting the reform of the world financial system to meet the needs and priorities of developing countries.
He emphasized that the real influence of the BRICS group consists in its ability to create space and vision necessary to achieve the interests of joint groups in several areas in response to the aspirations of peoples.
Brazil takes place the seventeenth summit of the BRICS group in Rio -de -Zhanero on July 6 and 7, under the slogan “Improving cooperation in the global south for more comprehensive and sustainable management”, and the summit appears in the light of escalation geopolitical stress, focusing on large issues, such as assistance in the local environment, developing financing in the field of development in the field of development in the field of development in the field of development in the field of development in the field of development in the field development of development in the field of development of development in the field of development in the field of development of development in the field of development in the field of development in the field of development in the field of development in the field of development in the field of development in the field of development in the field of development in the field of development in the field of development in the field of development in the field of development in the field of development in the field of development of development. Infrastructure projects and sustainable development.
Source: RT
