Jan 16 2025
ABU DHABI: The World Bank has praised the UAE’s climate finance leadership, emphasising its pivotal role in tackling global climate challenges through enhanced and coordinated financing efforts.
Speaking at the 7th Abu Dhabi Sustainable Finance Forum, held as part of Abu Dhabi Finance Week, Safaa El-Kogali, World Bank Country Director for Gulf Cooperation Countries, highlighted the UAE’s strong commitment to advancing climate action.
El-Kogali spotlighted the ongoing partnership between the World Bank and the UAE, saying, “I am proud of our partnership with the UAE and the Global Climate Finance Centre, which the World Bank Group co-founded at COP28. Later today, we will be signing an MOU with the Climate Finance Center to further realise this mission.”
The forum served as a platform to discuss sustainable financing strategies aimed at supporting the 2030 Agenda for Sustainable Development Goals (SDGs). El-Kogali acknowledged that achieving the SDGs requires collective action, stating, “The World Bank Group is committed to supporting countries as they strive to achieve the SDGs. But we know that we cannot do it alone. That’s why we are working closely with other multilateral development banks, the private sector and government partners, like the UAE, to improve the lives of people in developing countries in tangible, measurable ways.”
She emphasised the World Bank Group’s efforts in reducing poverty, enhancing healthcare, promoting education, expanding clean energy, generating jobs, and addressing climate action. By offering financial resources, technical expertise, and policy guidance, the World Bank is helping countries create a sustainable future.
This recognition reflects the UAE’s growing influence in global climate action, especially with the recent COP28 summit, further solidifying its leadership role in sustainable finance.
