Skopje, 5 December 2023 (MIA) - Within the frameworks of the United Nations Climate Change Conference (COP28), Minister of Environment and Physical Planning Kaja Shukova participated in a panel discussion focused on the experiences of four UN member-states - North Macedonia, Madagascar, Uruguay, and Zimbabwe - in using the UN Joint SDG Fund aimed at implementing sustainable development programs, the Ministry of Environment and Physical Planning said in a press release on Tuesday.

In her address, Shukova highlighted the Green Finance Facility (GFF) that will be realized with financial support from the UN Joint SDG Fund.

"GFF will help accelerate our country's progress on a number of sustainable development goals, especially the "green" goals, for affordable and clean energy, sustainable cities, climate action, and reduce gender and partner inequality. The USD 46 million we secured through this fund will not cover all financial needs for an accelerated green transition in North Macedonia. But, to us it is an important financial mechanism that provides a viable alternative to stimulate subsidization, showing how partnering with the UN family, the country's banking sector, and regional microfinance institutions (MFI), can increase our reach and impact," Shukova said.

She also emphasized North Macedonia's commitment to the green transition, especially the implementation of renewable energy sources and increased energy efficiency.

GFF, she added, ensures greater access to investment funds for renewable energy sources and energy efficiency for small and medium-sized enterprises and households. That will help reduce greenhouse gas emissions and air pollution.

Panelist at the session included high representatives from Madagascar, Uruguay, and Zimbabwe, as well as representatives from the governments, donor communities, private and finance sectors, and investors. ssh/ik/

Photo: Ministry of Environment and Physical Planning