AIIB and UAE's COP28 Presidency collaborate to boost climate investments

 


Recently, the Presidency of the United Arab Emirates' COP28 and the Asian Infrastructure Investment Bank (AIIB) joined together to expedite sustainable energy initiatives and raise cash for climate change. The two organisations are concentrating on creating novel financial frameworks to raise institutional and private resources, enhancing the architecture of multilateral development financing, and enhancing institutional cooperation through knowledge sharing and operational assistance.


The Paris Agreement's aims and the 2030 agenda are expected to be achieved in large part thanks to this cooperation. According to AIIB President Jin Liqun, this collaboration is a critical step towards releasing more funding and adding value in the most underserved areas.


The partnership's goals are to draw in private investment, make the required financial resources available, and assist adaptation, mitigation, and climate-resilient projects, according to COP28 President-Designate Sultan Al Jaber. He sees this partnership as a means of securing vital funding, drawing in private investment, and advancing mitigation and adaptation plans—all of which will help create a future that is climate resilient.

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