The economies of Middle Eastern and North African countries have growth potential, which could benefit their growing populations. They face challenges, however, in several areas, such as urban infrastructure, water and sanitation and clean energy. Investment in climate action presents an opportunity for these countries to build sustainable infrastructure.
Climate Action in the Middle East and North Africa (CAMENA) is a financial facility established in 2014 by the European Investment Bank and the United Kingdom. It provides support to the region’s sustainable growth and its efforts to combat climate change. With a budget £11 million, CAMENA provides technical assistance to help prepare and implement projects, which increases their chances of getting financing from international institutions active in the region, like the European Investment Bank. Projects supported by CAMENA are expected to improve thousands of lives in the region.
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