The United Arab Emirates, represented by the UAE Ministry of Finance and the UAE Central Bank, attended the Annual Joint Meeting of Arab Financial Institutions. Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, hosted the meeting, which was attended by Dr Mostafa Madbouly, Prime Minister of the Arab Republic of Egypt.
The UAE the team also attended a meeting of the Council of Arab Finance Ministers, where they discussed a variety of issues aimed at improving joint Arab work and permitting partnerships between regional and international Arab institutions to finance projects that promote development and address the current challenges facing Arab countries.
During the meeting of the Council of Arab Finance Ministers, Mohamed Al Hussaini emphasised the importance of providing more accessible and appropriately priced climate financing, and the necessity of supporting renewable energy technologies and reducing emissions to address the significant risks that climate change poses to sustainable growth and the well-being of populations.
In his speech, commenting on the paper presented by the Arab Monetary Fund on ‘Climate Change and Policy Options’, Al Hussaini highlighted the UAE’s efforts in enhancing investment in green infrastructure, supporting blended finance solutions in developing countries, and launching the clean energy finance initiative, through which it committed US$4.5 billion to help stimulate Africa’s clean energy capabilities, calling for effective mobilization of private capital to expand climate-resilient infrastructure and emphasising the importance of investing in green skills as a cornerstone for enhancing effective climate action.
