UAE President Announces $30 Billion Fund to Bridge Climate Finance Gap
United Arab Emirates President Sheikh Mohammed Bin Zayed Al Nahyan, whose country is hosting the COP28 climate summit, announced on Friday a $30 billion climate fund that aims to attract $250 billion of investment by the end of the decade.
Dubbed ALTÉRRA, the fund will allocate $25 billion to climate strategies and $5 billion to incentivise investment flows into the Global South, a statement by the COP28 Presidency said.
Source: Reuters (link opens in a new window)
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