AfDB raises clean tech investments to 45% – UAE’s industry minster

The African Development Bank Group (AfDB) has raised clean technology investments to 45 percent, up from nine percent, said Sultan bin Ahmed Al Jaber, the UAE’s Minister of Industry and Advanced Technology, on Tuesday.

Al Jaber made his remarks during the activities of the second day of the AfDB’s 2023 annual meetings, adding that the increase in investments came only in four years of its portfolio, in a move that he called a “remarkable achievement.”

“Africa’s clean energy potential is vast, with wind, solar, hydro, and geothermal resources ready to drive low-carbon growth. However, the lack of accessible and affordable finance poses a major hurdle,” he said.

Al Jaber is the COP28 President Designate as well as the UAE Special Envoy for Climate Change.