At the BRICS Finance Ministers and Central Bank Governors Meeting in India, Egyptian Minister of Finance Ahmed Kouchouk called for greater support for developing economies amid geopolitical volatility that is increasing financing burdens and constraining growth. He urged the New Development Bank to provide more low-cost financing and expand the use of local currencies, while advocating multilateral guarantees to attract private investment and reduce financing costs. Kouchouk also supported closer BRICS tax cooperation to create a global system that is fairer to emerging economies and reduces reliance on borrowing. Other priorities included customs cooperation through Authorized Economic Operator programs, capacity building to support trade, and greater use of artificial intelligence and advanced technology to support sustainable growth and the green transition. He also encouraged sharing international expertise to increase private-sector participation in development projects.
2026-09-10Ministry of Finance (Egypt)
Egypt’s Ministry of Finance calls for expanded BRICS development financing and economic cooperation
Egyptian Minister of Finance Ahmed Kouchouk called for expanded BRICS support for developing economies, including more low-cost New Development Bank financing, local-currency use and multilateral guarantees. He also advocated closer tax and customs cooperation, greater use of advanced technology and stronger private-sector participation in development projects.