Egypt's Environment Minister Khaled Fahmy said Sunday the Paris Agreement on climate change will serve as the best replacement to the Kyoto Protocol that keeps in mind the rights of the developing countries.

In statements, the minister said the Paris Agreement meets the demands of the developing countries as it provides financial resources for renewable energy.

The African Group succeeded in achieving their targeted financial support of 5 billion dollars from the developed countries France, Germany and Canada to support renewable energy in the black continent.

Fahmy said the agreement provided financial support and technology transfer to the poor and most affected countries, including Egypt.

Fahmy represented Egypt and the African countries at the Paris Conference that wrapped up meetings on Saturday.

A deal to attempt to limit the rise in global temperature to less the 2C was reached at the climate summit after two weeks of intense negotiations.

The pact is the first to commit all countries to cut carbon emissions.

Sources: MENA