Minister of Petroleum and Mineral Resources Tarek El Molla met with Hani Kablawi, Chairman of International at the Bank of New York Mellon (BNY Mellon), and Ghada Kandil, General Manager of BNY Mellon, and a number of officials of the bank’s sectors.

The meeting discussed the efforts and activities of the Ministry of Petroleum and Mineral Resources within the framework of the ministry’s strategy for carbon reduction and energy transition.

El Molla highlighted the importance of accessing concessional financing sources to accelerate the energy sector’s efforts towards switching to low-carbon sources of energy.

The minister pointed to the important role of international financial institutions in this context to provide easy and fast financing to support governments and the private sector to continue providing the energy the world needs for growth and prosperity in parallel with accelerating the pace of carbon reduction.

Kablawi welcomed cooperation with the Ministry of Petroleum and Mineral Resources and discussed opportunities and projects that it could contribute to financing in the field of reducing emissions.