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Arab Energy Fund Plans up to $1 bln for Decarbonization Technologies

Arab Energy Fund Plans up to $1 bln for Decarbonization Technologies
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Arab Energy Fund Plans up to $1 bln for Decarbonization Technologies

Arab Energy Fund Plans up to $1 bln for Decarbonization Technologies

The Arab Energy Fund, formerly known as APICORP, plans to invest up to $1 billion over the next five years in decarbonization technologies, the Middle East and North Africa-focused multilateral financial institution said on Monday.

The planned investment and new name are part of a five-year strategy to 2028 to support the regional energy transition towards net-zero goals. The announcement was made during the COP28 climate summit in Dubai, Reuters reported.

"Our strategy involves diversifying investments by championing technological advancements for enhanced energy efficiencies and driving sustained decarbonisation efforts," Chief Executive of the Arab Energy Fund Khalid Ali Al-Ruwaigh said in a statement.

The institution, which carries an investment grade credit rating from all the major ratings agencies, issued a five-year $750 million green bond after setting up a green bond framework in 2021. $610 million has so far been allocated to 11 regional projects.

Almost 20% of the institution's loan portfolio of $4.5 billion is currently for environmental and socially responsible initiatives, it said in the statement.

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Japanese Woman who Was World's Oldest Person at 116 Has Died

(FILES) This handout file photo taken on May 23, 2024 and provided to AFP on August 22, 2024 by the Ashiya City government shows Japanese woman Tomiko Itooka as she celebrates her 116th birthday, in the city of Ashiya, Hyogo prefecture. (Photo by Handout / Courtesy of Ashiya City / AFP)
(FILES) This handout file photo taken on May 23, 2024 and provided to AFP on August 22, 2024 by the Ashiya City government shows Japanese woman Tomiko Itooka as she celebrates her 116th birthday, in the city of Ashiya, Hyogo prefecture. (Photo by Handout / Courtesy of Ashiya City / AFP)
TT
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Japanese Woman who Was World's Oldest Person at 116 Has Died

(FILES) This handout file photo taken on May 23, 2024 and provided to AFP on August 22, 2024 by the Ashiya City government shows Japanese woman Tomiko Itooka as she celebrates her 116th birthday, in the city of Ashiya, Hyogo prefecture. (Photo by Handout / Courtesy of Ashiya City / AFP)
(FILES) This handout file photo taken on May 23, 2024 and provided to AFP on August 22, 2024 by the Ashiya City government shows Japanese woman Tomiko Itooka as she celebrates her 116th birthday, in the city of Ashiya, Hyogo prefecture. (Photo by Handout / Courtesy of Ashiya City / AFP)

Tomiko Itooka, a Japanese woman who was the world’s oldest person according to Guinness World Records, has died, an Ashiya city official said Saturday. She was 116.
Yoshitsugu Nagata, an official in charge of elderly policies, said Itooka died on Dec. 29 at a care home in Ashiya, Hyogo Prefecture, central Japan.
Itooka, who loved bananas and a yogurt-flavored Japanese drink called Calpis, was born on May 23, 1908. She became the oldest person last year following the death of 117-year-old Maria Branyas, according to the Gerontology Research Group.
When she was told she was at the top of the World Supercentenarian Rankings List, she simply replied, “Thank you.”
When Itooka celebrated her birthday last year, she received flowers, a cake and a card from the mayor, The Associated Press reported.
Born in Osaka, Itooka was a volleyball player in high school, and long had a reputation for a sprightly spirit, Nagata said. She climbed the 3,067-meter (10,062-foot) Mount Ontake twice.
She married at 20, and had two daughters and two sons, according to Guinness.
Itooka managed the office of her husband’s textile factory during World War II. She lived alone in Nara after her husband died in 1979.
She is survived by one son and one daughter, and five grandchildren. A funeral service was held with family and friends, according to Nagata.
According to the Gerontology Research Group, the world's oldest person is now 116-year-old Brazilian nun Inah Canabarro Lucas, who was born 16 days after Itooka.