Sisi urges G20 to include recovery of stolen funds in its plan of action

Abdel Fattah El Sisi, the president of Egypt, has called on the Group of 20 to include the issue of recovering stolen funds in its plan of action.

Addressing the G20 Summit, Sisi particularly wanted the group to help Egypt restore its stolen funds. He said his country is looking forward to working with a research center for international cooperation, which China recently established for the purpose.

Sisi pointed out that combating corruption is a priority for Egypt and welcomed G20's plan of action for the coming two years in this regard, noting that such plan comes in line with the efforts exerted to activate The United Nations Convention against Corruption (UNCAC).

Sisi reiterated Egypt's calls for a bigger contribution of developing countries to the global economy. 

Mechanisms to control capital movement -especially if it is exiting developing markets - and ban the flow of illegal money should be upgraded, Sisi said in a session on economic and financial governance. 

He urged the G20 to please pay better attention to financial inclusion through adopting collective and coordinated measures to achieve this goal.

Sisi also talked about the need to boost energy cooperation, calling it a vital issue in this time of unprecedented changes in the movement of the global market. Energy security is a national, regional and international priority, the president stressed.

He pointed to Egypt's success story in securing energy for 99 percent of the people. Egypt is also playing a bigger role in the gas market, Sisi added, citing recent discoveries in the Egyptian waters.

Speaking about green finance, the president said it should not be limited to climate change projects. Infrastructure projects that support the green economy, such as waste recycling and water treatment, should also be included, Sisi said, noting that such plans would contribute to implementing the 2030 sustainable development goals.

Source: MENA