Middle East & North Africa

Since the Paris Agreement's adoption in 2015, a majority of the world's largest investors have begun to take action on climate change. According to a new report, the 2016–2017 year showed an average improvement in decarbonization within all major investor categories except pension funds.

This paper is a background review representing part of the initial phase of the Financing the Urban Transition work program. The review builds on a growing body of research that highlights both the importance of national sustainable infrastructure and the need to develop more effective and efficient financing mechanisms for delivering compact, connected cities that meet the UN’s Sustainable Development Goals. While progress has been made in both these areas over the last five years, there remains a policy gap between the international/national level and the municipal level.

Sovereign wealth funds (SWFs) are playing an increasingly important role in the management of government windfalls and income surpluses from a variety of sources. The rise of SWFs is evident from two major developments. First, there has been a significant increase in the size of assets under their collective management (now estimated at over $5 trillion globally), making them one of the largest – and fastest growing – pools of institutional capital in the world. Second, SWFs are gaining in popularity, as a large number of new funds have been established over the past decade and many more are anticipated in countries and regions with recent resource discoveries and other government surpluses.

Abraaj Capital addresses issues of how to respond to the fast-growing Middle East market. Questions of scaling, institutionalization, and...

The Arab World Competitiveness Report 2007, released by the World Economic Forum was co-authored by Dr. Tarik Yousef, DI Senior Fellow and Dean of the Dubai School of Government. The report states that the United Arab Emirates is the most competitive economy in the Arab world among the countries at the third and most advanced stage of development.

While oil discovery brought revenue to Dubai and would change the city's physiognomy, moving it beyond the initial three settlements along the creek, it is clear that Dubai's status as a dynamic entrepôt for international trade and transshipment, its foundational infrastructure projects, and its "free port" policies to attract merchant communities from throughout the Gulf and the Indian Ocean, along with licit and illicit trade for re-export to Persia/Iran and India, were solidly established before "black gold" was struck in Fateh field.