RCREEE Executive Director addresses financing sustainable energy at AFED’s 11th annual conference
November 8, 2018 – Beirut, Lebanon: Launching its’ annual report, Financing Sustainable Development in Arab Countries, The Arab Forum for Environment and Development (AFED) organized its 11th conference on 8-9 November 2018 in Beirut.
The conference consisted of 7 sessions in which the results of the AFED report were presented and the main recommendations discussed. Representatives of various Arab and international development funds discussed ways of collaborating to mobilize additional resources to achieve the Sustainable Development Goals. A session was devoted to financing sustainable energy, calling for the adoption of new instruments such as green bonds and Sharia-compliant sukuks, and stressing the importance of attracting private sector investment to renewable energy.
RCREEE Executive Director, Dr. Ahmed Badr joined the 3rd session of sustainable energy finances as a speaker. Dr. Badr addressed the funding sources in the Arab region in addition to possible future sources that can further support the region achieve its renewable energy and energy efficiency targets.
The conference hosted 400 delegates from 40 countries representing governments, regional and international organizations and the private sector. Those present included the World Bank, ESCWA, FAO, the Organization for Economic Co-operation and Development (OECD), the European Bank for Reconstruction and Development (EBRD), the Islamic Development Bank and Kuwait Fund, among others.
At the end of the second day, the conference recommended the development of feasible integrated strategies and plans, with clear and sequenced priorities for sustainable development goals at the local level, in accordance with a specific implementation schedule, supported by well-prepared feasibility studies. This must be accompanied by the adoption of an appropriate legislative and regulatory framework that will ensure donor confidence.
Full AFED report on Financing Sustainable Development in Arab Countries can be downloaded at www.afedonline.org