Minister for the Middle East and North Africa today announced £50m UK
funding for the High Impact Partnership on Climate Action
(HIPCA). The European Bank for Reconstruction and Development
(EBRD) launched HIPCA on 2 November at an event during COP26 in
Glasgow.
The EBRD-managed Partnership aims to unleash investments and
solutions that reduce or prevent greenhouse gas emissions,
strengthen resilience and reduce vulnerability to climate change,
and protect the environment.
The UK’s funding will be used to mobilise private sector funds to
support work across North Africa and the Middle East, including
in Morocco, Algeria, Egypt, Tunisia, Jordan and Lebanon. This
funding will be used to support energy transition and green
infrastructure and growth in the region.
Announcing the funding at HIPCA’s launch event, Minister Cleverly
said:
COP26 is not just about realising the climate commitments of
individual governments, it’s about working together to enable all
countries to meet global net zero targets and reduce the impacts
of climate change. To do this we must unlock public and private
investment and push for innovative and green solutions.
That’s why the UK is making a £50 million contribution to HICPA,
whose work to mobilise funds and support green infrastructure
projects in the Middle East and North Africa is vital for both
economic growth and a greener future for the region.
Background:
- The EBRD’s new HIPCA partnership has been developed by the
EBRD in collaboration with Austria, Finland, Netherlands,
Switzerland, the Taiwan ICFD (International Cooperation and
Development Fund) and the UK. It was launched on 2 November at an
event at the MDB Pavilion at COP26.
- For further information about HIPCA, the launch event and
speakers, see www.ebrd.com/news. The launch event will be
livestreamed on the EBRD YouTube channel.
