The second edition of the five regional forums mobilizes funds for climate projects
Second edition of five regional forums mobilizes funds for climate projects
On the climate projects targeted by the Egyptian Presidency of the Conference “COP27” and the Emirati Presidency of the “COP28” Conference with the participation of the United Nations committees – Dr. confirmedMahmoud Mohieldin “The climate pioneer of the Egyptian Presidency of the Conference of the Parties (COP) to the United Nations Convention on Climate Change COP27, and the Special Envoy The United Nations Committee on Financing the 2030 Agenda for Sustainable Development said that the second edition of the five regional forums seeks to propose mobilizing financing for climate projects that were proposed by the first edition of the forums at the level of the five economic regions of the United Nations.
This was confirmed by Dr. Mahmoud Mohieldin during his speech at the opening session of the second edition of the Asia-Pacific Regional Forum, in which he spoke at length about opportunities for financing – as well as accelerating – development and climate action.
It is noteworthy that the Asia-Pacific Forum was organized by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), with the participation of the Presidencies of the Twenty-Seventh and Twenty-Eighth Conferences of the Parties, in addition to the participation of Ms. Armida Salsiah Alistahbana, “Executive Secretary of ESCAP,” in addition to a diplomatic presence represented by Ambassador Wael Abu Al-Majd, “Special Representative of the President of the Twenty-Seventh Conference of the Parties (COP),” and “Simon Steele.” “Executive Secretary of the United Nations Climate Change Convention.”
Then the climate pioneer said: “This edition of the five regional forums aims to create a constructive dialogue between parties working in the climate field. So that the obstacles to implementing climate and development projects in developing countries can be overcome, which will enhance the opportunities for financing these projects through communication between their implementing agencies and establishing communication links between them and potential funders. To be extended and effective partnerships that provide technical support and help raise these projects to the level that qualifies them to qualify for funding, and then become a compass on the basis of which other climate projects are determined, such as: adapting to climate change and reducing harmful emissions.”
On the other hand, Mohieldin noted the large attendance in the second edition of the five regional forums, expressing his overwhelming happiness with the interaction of more than a thousand participants, to whom more than 400 climate and development projects were presented, so that – after the liquidation – these projects – became 128 projects, which are projects that require about 128 billion dollars to implement, and the financial closure was reached for seven projects in Africa.
On the Climate Pioneers team, the climate pioneer – Dr. Mahmoud Mohieldin – indicated that he had issued the report “Transforming Assets into Financial Flows,” explaining that these financial flows are consistent with the recommendations of the first edition of the five regional forums, and that this includes the steps required towards mobilizing private financing, with an explanation of the potential financing tools.
At the same time, Mohieldin saw – with regard to the priorities for financing climate and development work during the current year – the necessity of implementing reform policies for the financing systems in international institutions and multilateral development banks. In order to mobilize and increase private financing, and also to provide financing for the Sharm El-Sheikh Adaptation Agenda.
Regarding the importance of these reform proposals, Dr. Mahmoud Mohieldin alluded to the importance of dealing with the debt crises of developing countries, and this is by devising new plans for concessional financing, and then expanding the scope of these plans to include countries with middle and low incomes. Hence, the necessary support will be available for the transition towards a green economy.
Mohieldin also stressed the necessity of strengthening financial policies capable of creating an environment that protects financial flows through sustainable financing tools. He also stressed the importance of strengthening the departments of the agencies concerned with these development projects, especially in their early stages. To attract investment and financing entities.
Then, Dr. Mohieldin concluded his speech by praising the efforts of the organizers of the Five Regional Forums initiative, through which they seek to achieve financial closure for between 10 and 15 projects in the five economic regions, so that this year’s edition of the Asia-Pacific Forum will be more important than the first edition.
