Cities and Villages Development Bank engages in regional climate dialogue in Morocco

Amman, June 26 (Petra) — The Cities and Villages Development Bank (CVDB) is actively participating in a groundbreaking regional dialogue organized by the Green Climate Fund for Arab nations in the Middle East and North Africa. The event, held in Bouznika, Morocco, from June 24 to 28, is under the patronage of Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali.

In a statement released on Wednesday, the bank highlighted that the dialogue, attended by over 200 representatives from across the region, aims to strengthen cooperation between the Green Climate Fund and its regional partners. This includes national institutions, accredited entities, and project implementers. The dialogue seeks to facilitate discussions and exchange experiences on implementing climate investments in developing countries and developing effective national programs to mitigate and adapt to climate change.

During a session focused on the bank’s journey towards obtaining accreditation from the Green Climate Fund, the CVDB’s General Manager, Osama Al-Azzam, emphasized the Green Climate Fund’s pivotal role in supporting the transition to a resilient economy in the face of climate change. Al-Azzam noted that aligning the bank’s institutional goals with national climate objectives is crucial for success and highlighted the importance of knowledge and tools over mere financial resources. He also commended the significant support provided by the Ministry of Environment in this endeavor.

This regional dialogue is a valuable opportunity for Middle Eastern and North African countries to share experiences and best practices in climate action and to develop innovative projects that contribute to achieving sustainable development goals. It also enhances the region’s capacity to address increasing climate challenges.

The CVDB recently received accreditation from the Green Climate Fund during a board meeting in Rwanda last March. This achievement marks the bank as the first institution in the Middle East to obtain such accreditation, following years of diligent work by its staff to meet financial, environmental, and social criteria.

//Petra// RZ
26/06/2024 11:52:08