Lessons Learned from COVID-19 - FC
Middle East and Africa Summit 2023

Sovereign Wealth Funds: Creating Sustainable Finance for Regional Integration and Growth between the Middle East and Africa

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In a little over two decades, the number of sovereign wealth funds (SWFs) has grown from 62 in 2000 to 176 currently. Funds from North Africa, Eastern Mediterranean, and the Gulf now comprise a pool of over $4.1 trillion looking to invest long-term in human capital development and high value technologies that could transform the region through job creation and capital formation. SWFs increasingly seek to enlarge capital allocations by moving away from stability funds to include foreign exchange reserves, revenues from privatization, government transfer payments, remittance flows, and other new investment vehicles. How can short term intensification of natural resource development encourage regional energy transitions and new technologies that promote sustainability and reduce fossil fuel demand? What catalytic role can SWFs play in building markets for the next generation of new technologies and expanding connectivity between the Middle East, Africa, and the Mediterranean Basin?

    Moderator

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    Glenn Yago

    Senior Fellow and Founder, Financial Innovation Lab, Milken Innovation Center

    Speakers

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    Victoria Barbary

    Director, Strategy and Communications, International Forum of Sovereign Wealth Funds
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    Bernardo Bortolotti

    Professor of Finance and Executive Director, Transition Investment Lab, NYU Abu Dhabi
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    Eric Bundugu

    Deputy Executive Director, Capital Market Authority, Rwanda
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    Haris Lambropoulos

    President, Hellenic Development Bank of Investments SA (HDBI)
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