Unlocking Climate Blended Finance in the Middle East and North Africa (MENA) region 

__Dec 2, 2023, 2:30-4:00 GST__ 

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__Background__

The Middle East and North Africa (MENA) region faces a critical juncture in sustainable development financing, particularly in pivotal sectors such as energy, agriculture, and water and sanitation. Despite the significant financial resources within the region, the utilization of blended finance remains disproportionately low. MENA has seen economic growth but still faces infrastructure deficits, high unemployment, and climate vulnerability. The region held over $3 trillion in sovereign wealth capital as of 2021, presenting vast potential for investment. However, to date, the MENA region has recorded only 76 blended finance deals, amounting to about $14 billion in total financing volume.

__About the panel discussion__ 
The session will explore:
- How to utilize blended finance to mobilize capital for climate finance in MENA
- What regulatory barriers may be inhibiting climate blended finance investments in MENA?
- What are successful examples of innovative climate blended finance structures and instruments deployed to mitigate risks and mobilize private investments in other regions that can shed light on how to best replicate in MENA?
- Given the enormous sovereign wealth capital in MENA, how can we best incentivize and encourage the use of this capital in a more catalytic manner? 

__Agenda__ 

| Time | Description |
| ---------- | ---------- |
|2:30PM-2:35PM | Welcoming Remarks by __Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan__, CEO, UAE Independent Climate Change Accelerators (UICCA) |
| 2:35PM-2:40PM | Opening Remarks by __Joan Larrea__, CEO, Convergence |
| 2:40PM-3:10PM | Panel Discussion 1. International practices, moderated by __Joan Larrea__, CEO, Convergence, and featuring panelists: - __Christian Deseglise__, Group Head of Sustainable Infrastructure and Innovation, HSBC - __Dr. Jyotsna Puri__, Associate Vice-President - Strategy and Knowledge Department, IFAD - __Amal-Lee Amin__, Managing Director and Head Climate Change, British International Investment - __Nadia Boumeziout__, Head of Sustainability and Information Governance, Zurich Insurance - __Carrie Walczak__, Senior Advisor of Sustainability Strategy & Policy, FMO 
| 3:10PM-3:40PM | Panel Discussion 2. MENA regional perspectives, moderated by __Joan Larrea__, CEO, Convergence, featuring panelists: - __Yariv Cohen__, CEO, Ignite Power - __Dr. Frannie Leautier__, CEO, Southbridge Investments - __Ennis Rimawi__, Managing Director, Catalyst - __Tarek Sherlala__, Assistant Director-General, Financial Operations, OPEC Fund for International Development |
| 3:40PM-3:55PM | Open Consultation, __Joan Larrea__, CEO, Convergence |
| 3:55PM-4:00PM | Closing Remarks & End of Discussion

COP28 Panel Discussion: Unlocking Climate Blended Finance in the Middle East and North Africa (MENA) region 

Join us to learn about unlocking climate blended finance in the Middle East and North Africa (MENA) region 

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