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Pakistan Celebrates National Day in UAE with Diplomatic Reception

  The Embassy of Pakistan in the United Arab Emirates (UAE) hosted a grand reception today to commemorate Pakistan's National Day, attended by members of the diplomatic corps, senior UAE government officials, Emirati nationals, and the Pakistani community. His Excellency Sheikh Nahayan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, graced the occasion as the Chief Guest, alongside Minister of State for Foreign Affairs, His Excellency Ahmed bin Ali Al Sayegh. The event featured traditional performances, including the national anthems of Pakistan and the UAE played on traditional instruments. The Pakistani flag was prominently displayed on the hotel building, visible across Abu Dhabi, symbolizing the strong ties between the two nations . In his address, Ambassador Faisal Niaz Tirmizi reflected on the significance of the Pakistan Resolution and the challenges faced by the nascent state in its journey toward socio-economic development. He highlighted various opportuni...
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UAE Unveils $30 Billion Climate Investment Fund as COP28 Kicks Off With New Finance Initiatives

 


Dubai - The 28th Conference of Parties (COP28) climate summit is hosted in Dubai today with several new funding initiatives aimed at mobilizing greater private investment to tackle the climate crisis. 


The United Arab Emirates announced the launch of a $30 billion climate investment venture called ALTRRA. The new fund aims to mobilize $250 billion globally by 2030 to support projects reducing emissions and adapting to climate impacts. UAE COP28 President Sultan Ahmed Al-Jaber said ALTRRA demonstrates the UAE's commitment to climate action and will be the "world's largest private investment vehicle" for the issue.


In addition, multiple development banks and countries pledged new climate finance. The World Bank committed to increase its annual climate spending to 45% of total projects by 2024-25. Canada pledged $16 million to the new UN loss and damage fund, while France committed $100 million. Separately, the UK announced $2 billion for the Green Climate Fund. 


New public-private partnerships were also unveiled to blend funding sources. An $11 billion platform called Allied Climate Partners was launched with support from the Bezos Earth Fund and other donors. India also saw commitments totaling over $6.5 billion to boost electric vehicles and green hydrogen. 


The financial announcements at the start of COP28 aim to accelerate progress on climate goals through greater investment across sectors. If realized, the new sources of funding could help scale up climate action in developing nations most vulnerable to impacts.

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