Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State, participated in the ‘Africa Investment Earthshot Leaders’ Summit’ at the COP28, which is currently being held at Expo City Dubai.
During a keynote speech, Sheikh Shakhboot highlighted the most prominent pledges and commitments announced by the UAE which will be implemented in Africa during COP28. Most notable was the allocation of US$200 million to bolster climate resilience in vulnerable countries, and US$100 million of new finance for nature-climate projects, with an initial US$30 million investment as part of the government of Ghana’s ‘Resilient Ghana’ plan.
He also stated that, ‘Under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the UAE is continuously working to ensure the establishment of a prominent and effective regional Africa investment Earthshot partnership, which reflects the UAE’s commitment to enhance long-term partnerships that aim to develop and invest in Africa as equal economic partners to achieve mu
tual interests.’
Sheikh Shakhboot commended the endeavors of Africa leaders in bridging the African continent’s climate gap of $3 trillion and the gap of investing private capital in sustainable development goals, through institutional partnerships between the private and the public sector.
Furthermore, the Minister of State held numerous bilateral meetings with several officials in Africa, where he signed Memorandums of Understanding and bilateral agreements in various fields, on the sidelines of the meetings.
Sheikh Shakhboot’s continuous engagements at COP28 pertaining to the challenges facing the African continent reflects the UAE’s unwavering commitment to collaborate with its partners in Africa to reach pragmatic and sustainable solutions, and to enhance the international community’s climate action in countries most vulnerable to the risks of climate change, particularly in the Global South.
Source: Emirates News Agency