EVENTS
Our impact is
demonstrated by landmark projects which exemplify the cooperation between
“
governments, development finance institutions and private-sector actors.
OPEC FUND DELEGATION PARTICIPATES IN AIIB ANNUAL MEETING
Assistant Director-General Tareq Alnassar calls for stepping up investments in renewable sources of energy
T
areq Alnassar, Assistant Director- General of the OPEC Fund’s Private
Sector and Trade Finance Operations department, participated in the 2021 Annual Meeting of the Asian Infrastructure Investment Bank (AIIB) in Abu Dhabi, United Arab Emirates. Speaking at a panel on "How
innovative financing can bridge the infrastructure spending gap in the Middle East", he said: “We should support countries in their bid to increase the share of renewable energy and assist the diversification of the energy mix in frontier markets. This needs to include a focus on the electricity sector's root
problems such as grid stability issues, high levels of transmission losses, energy storage, and the need for local currency power purchase agreements to hedge foreign exchange risks.” Alnassar highlighted the role of
development finance institutions in supporting the energy transition and emphasized the OPEC Fund’s role as an institution at the forefront of promoting access to affordable clean energy. “Our impact is demonstrated by landmark projects which exemplify the cooperation between governments, development finance institutions and private sector actors,” he added.
Tareq Alnassar, OPEC Fund Assistant Director-General, Private Sector and Trade Finance Operationsns
Speakers included: • Sir Danny Alexander, AIIB, Vice President, Policy and Strategy
• Niall Hannigan, Masdar, Chief Financial Officer
• Mark Cutis, Abu Dhabi Global Market Authority–Abu Dhabi Global Market, Chief Executive Officer
Discussion topics: • How new financing models can support public and private partnerships and secure investment for new infrastructure.
• How multilateral cross-border cooperation can mobilize finance for infrastructure.
• The regulatory frameworks and policies necessary to accelerate and facilitate investment in large infrastructure projects.
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PHOTO: AIIB
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