The first event of the meetings was a symposium on “Mobilizing Blended Finance to Facilitate Green Transformation in Emerging Economies”, with the participation of Minister of International Cooperation Rania Al-Mashat, Environment Yasmine Fouad, Deputy Central Bank Governor Rami Abu Al-Naga and representatives of a number of international financial institutions.
The symposium included many important discussions on the challenges faced by multilateral development banks in adopting the blended finance structure needed to support emerging economies’ transition to low-carbon economies, and how to overcoming these challenges, as well as on the role of these banks. as local authorities in emerging countries, in the financing of large-scale investments, the scale necessary for the green transition in various fields such as clean energies.
Discussions focused on key challenges facing private sector investment in emerging markets and how to address them through blended finance, as well as the importance of public-private partnerships to reduce climate risks and create an enabling environment for these in these markets. , while providing the means of monitoring and supervision necessary to ensure the transparency and effectiveness of blended finance.
In the same context, the symposium discussed ways to mobilize partnership between the public and private sectors to address the lack of funding for climate adaptation projects that are less profitable than renewable energy and climate improvement projects. energetic efficiency. He also reviewed the experiences of developing countries in public-private partnerships to meet their climate commitments, and the lessons learned from these.
African Development Bank meetings will continue until May 26.
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