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

2023 MEA Summit

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

Thursday, December 7, 2023
03:15 PM - 04:15 PM
Abu Dhabi Rosewood - Yasmine Ballroom

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
Glenn Yago
Senior Fellow and Founder, Financial Innovation Lab, Milken Innovation Center
Speakers
Victoria Barbary
Director, Strategy and Communications, International Forum of Sovereign Wealth Funds
Bernardo Bortolotti
Professor of Finance and Executive Director, Transition Investment Lab, NYU Abu Dhabi
Eric Bundugu
Deputy Executive Director, Capital Market Authority, Rwanda
Haris Lambropoulos
President, Hellenic Development Bank of Investments SA (HDBI)