Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, today held meetings with counterparts from fellow nations as well as senior officials and representatives of international financial institutions, on the sidelines of the UN Climate Change Conference (COP28) in Dubai. The meetings were part of the Ministry of Finance’s wider participation in COP28’s Finance Day.

Mohamed Al Hussaini met with Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy of Bahrain, Dr. Mohamed Maait, Minister of Finance of Egypt, Daniela Stoffel, State Secretary for International Finance at the Federal Department of Finance in Switzerland, Sri Mulyani Indrawati, Minister of Finance of Indonesia, Mihály Varga, Minister of Finance and Deputy Prime Minister of Hungary, and Anton Siluanov, Minister of Finance of the Russian Federation, as well as Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD), Dr. Ilan Goldfajn, President of the Inter-American Development Bank (IDB), and Alvaro Lario, President of the International Fund for Agricultural Development (IFAD).

Highlighting the importance of alignment of global efforts in climate finance, Al Hussaini said, “I was delighted to welcome our esteemed international guests participating in COP28 and discuss the future of climate finance, as well as the COP28 UAE Declaration on a Global Climate Finance Framework.”

He added, “The UAE’s hosting of COP28 symbolises our determination to support the world in its efforts to combat climate change. The UAE remains committed to driving forward the goals of COP28, by our own efforts and in cooperation with nations and international institutions.”

The meetings explored ways to enhance cooperation on climate issues, and the challenges facing global food security and ways to enable resilient food systems.

The meetings also touched on the growing role of multilateral development banks in increasing climate finance, promoting the transition to renewable energy, accelerating finance towards sustainable development, forging strategic partnerships, and strengthening the financial sector.

During Finance Day of COP28, the UAE Ministry of Finance, in coordination with the COP28 Presidency, also hosted a Finance Ministers High-Level Round Table on ‘Scaling Up Climate Finance’, where participants shared their experiences and views on mobilising financial resources and enabling policies for climate action.