As the United Arab Emirates, UAE prepares to host the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) from November 30 to December 12, 2023, at Expo City Dubai to unite the world towards agreement on bold, practical, and ambitious solutions to the most pressing global challenge of our time.
Meanwhile, COP28 has announced today a new finance initiative between the UAE & Africa to unlock Africa’s clean energy potential. In strategic partnership with Africa 50, the initiative brings together public, private, and development capital from reputable financial institutions in the United Arab Emirates, UAE namely; the Abu Dhabi Fund, ECI, Masdar, and AMEAPower.
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The Abu Dhabi Fund for Development is a national institution that is committed to promoting economic and social development in developing countries. With a focus on supporting economic diversification and mitigating risks associated with trade, their efforts are aligned with the goals of this finance initiative.
Masdar, on the other hand, is a leading organization in the field of renewable energy. Their expertise lies in the development and deployment of commercial-scale projects that harness the power of clean technologies. By participating in this finance initiative, Masdar contributes its extensive knowledge and experience to furthering the cause of sustainable energy.
Etihad Credit Insurance (ECI) is UAE\’s export credit agency, providing essential services such as export credit insurance, export financing, trade credit insurance, and surety bonds. As a partner in this initiative, ECI plays a crucial role in facilitating the flow of financial resources and ensuring that clean energy projects in Africa receive the necessary support.
Completing this remarkable alliance is AMEA Power, a Dubai-based developer, owner, and operator of renewable energy projects. With a focus on Africa, the Middle East, and other emerging markets in Asia, AMEA Power brings valuable insights and expertise to help accelerate the transition to cleaner energy sources.
Nonetheless, the upcoming COP28 conference hosted by the UAE holds great promise for advancing global efforts to combat climate change. The finance initiative with Africa made possible through the collaboration of key financial institutions, marks a significant step towards unlocking Africa\’s clean energy potential. It is believed that this initiative will be uniting nations and mobilizing resources, so things can work together towards a more sustainable future for our planet.
This is great opportunity for us young entrepreneurs.in Africa.and I believe this program will help us so much reaching far heights..I’m Raynotte from Malawi with ma partner Emmanuel we run this initiative called Zero plastic and waste plastics to Building materials,where we collect all the waste plastic from rivers,lakes ,cities communities etc we recycle and manufacture them into usable building materials like plastic bricks,Tiles ,roofing sheets and many while battling plastic pollution,climate change Globle warming , deforestation and unployment to also achieve sustainable development/houses and environmental services in our country and beyond..we believe this programme will help to boost and operated at large scale.
Hello am muhindo Jonathan from Uganda and my contact is +256741266504
We are the first actors of climate change issues which brings about positive change
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