GAIA awarded Best Blended Investment NDC initiative at COP28

GAIA awarded Best Blended Investment NDC initiative at COP28

Dubai:– GAIA, a climate change-focused blended finance platform led by MUFG, one of the world's leading financial groups, and FinDev Canada, Canada's bilateral development finance institution, has won the Best Blended Investment NDC (Nationally Determined Contribution) Initiative of the Year award at COP28. The awards ceremony took place at COP28 on 5th December during the African Investment Earthshot Leaders Summit. The awards recognise both public and private sector institutions that are working to innovate and break new ground to mobilise private capital and private sector participation at scale, for Africa’s bankable NDC investment commitments and projects. GAIA is a $1.48 billion climate change-focused blended finance platform that will offer long-term loans for climate change adaptation and mitigation investments in up to 25 developing countries across Asia, Africa, Latin America, and the Caribbean, making funding accessible through sources previously unattainable to participating countries. Fumitaka Nakahama, Global Head, Global Corporate & Investment Banking Business Group, MUFG, said: “We are delighted that GAIA has been recognised for its ambitions to drive the transition towards a more sustainable, inclusive global economy. Using an innovative approach to blended finance, we are excited to witness the impact GAIA can have in helping to progress climate change adaptation