UAE allocates $200 million to combat climate change in low-income countries
Dr Sultan Ahmed Al Jaber (C) prepares for the High-Level Segment for Heads of States and Government session during the COP28 summit in Dubai on Friday. AFP
Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and President of the COP28 Conference of the Parties, announced the UAE’s contribution of $200 million to the International Monetary Fund, with the aim of supporting the fight against climate change in low-income countries.
This came during the COP28 Conference of the Parties, which was hosted by the UAE in Expo City Dubai, and its activities began on Thursday and will continue until December 12.
On Friday, the UAE announced its commitment to invest an additional $130 billion over the next seven years in financing climate action, explaining that it has invested $100 billion in financing climate action and renewable and clean energy, and confirmed the establishment of a $30 billion fund for climate solutions worldwide, which is designed to bridge the climate financing gap and facilitating access to it at an affordable cost, and aims to stimulate the collection and investment of $250 billion by 2030.
