POLITICS: Today, US President Joe Biden met with Arab Emerates leader, President Mohamed bin Zayed in Washington D.C. Biden met with bin Zayed to announce the ALTERRA Fund
a plan that will fuel the catalytic climate finance vehicle with $30 billion dollars.
By Michelle Crawford-Sapenter
Today, President Joe Biden states the inclusion of the $30 billion dollar fund that is meant to support efforts already being conducted to address the matter of climate change. Biden indicated that the ALTERRA fund plays a significant role in supporting the clean energy transition and enhancing resilience.
The ALTERRA Fund will back a $5billion dollar package that focuses on simplifying the efforts made to invest in least developed countries and small island developing states.
Last year, President Biden met with the UEA during such time that the US & Arab Emirates galvanized plans for securing the Partnership for Accelerating Clean Energy.
Plans formed between the U.S. & United Arab Emirates will provide for global efforts at fighting climate change and funding clean energy technology. The plans contained in PACE aim at fueling the project with $100 billion dollars and 100 GW of green energy by 2035.
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