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During his opening of the World Climate Action Summit, the President of the UAE announces the establishment of a $30 billion fund for climate solutions worldwide.

Dubai (UNA) - Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, announced the establishment of a $30 billion fund for climate solutions worldwide, which is designed to bridge the climate financing gap and facilitate access to it at an appropriate cost. It aims to stimulate the collection and investment of $250 billion by Year 2030.

This came during the opening of the “Global Climate Action Summit” on Friday, which is being held within the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) in Expo City Dubai.

During his opening speech, Sheikh Mohammed bin Zayed welcomed the leaders of world countries, heads of governments and delegations, and representatives of international organizations in the UAE and their participation in the World Climate Summit.

He said: “Our meeting today comes at a time when the world is facing many challenges, the most important of which is climate change and its repercussions that affect all aspects of life.”

The UAE President confirmed that the UAE has invested $100 billion in financing climate action and renewable and clean energy, and is committed to investing an additional $130 billion over the next seven years.

He also talked about the role of the late founder Sheikh Zayed bin Sultan Al Nahyan, who established among his people an original approach to preserving and preserving natural resources and ensuring their sustainability.

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