The total sustainable funding in international markets reached USD 391 billion in 2022, with expectations of reaching USD 1.4 trillion in 2028, a growth rate of 19 percent annually.
The remarks came in a speech by Director General and Chairman of the Board of the Arab Monetary Fund Dr Abdulrahman Al-Humaidi on Tuesday, during the second meeting for the green and sustainable funding network, held virtually in Abu Dhabi.
The rise in sustainable funding rate is due to the increase in climate change awareness, the change in governmental policies and the rise in demand for sustainable products and services, he said.
The network is a forum to share experience and coorinate in sustainable funding. It’s also an initiative for monetary decision making in the Arab World to enhance investment in environmental projects, he added.
Turning to green funding is a strategy to turn into low-carbon economies, using technologies that help reduce gas emmissions, Al-Humaidi said.
The fund is a regional Arab monetary institute, established in 1976, and went into performance in 1977. There are 22 member-countries in the fund, including Kuwait, with Abu Dhabi as the headquarters.
Source: Kuwait News Agency