Invest Cyprus is set to join the newly formed Climate Foreign Direct Investment (FDI) Coalition, established during the Davos Economic Forum. 

The proposal for creating this Coalition is supported by 14 heads of investment agencies, representing 300 million citizens committed to leading climate-aligned investments. As mentioned in an announcement issued at Davos, enhancing the availability of capital is vital to address the current financial gap in climate funding. Investment authorities play a crucial role in bridging this gap.

Through the Coalition, investment authorities can explore ways to exchange best practices and mutual support, including at the regional level. The Coalition is particularly poised to collaborate with investors to create and facilitate opportunities for green investments. This invitation by the Coalition comes at a critical time, and the signatories will collaborate with the Forum for the next steps.

Commenting on this development, Marios Tannousis, General Director of Invest Cyprus, who will represent the organization in the Coalition, described the participation as highly significant. He emphasized that Cyprus's involvement in an international body promoting investments in a vital sector like green development is crucial. Cyprus, he added, is focusing on green investments, and participation in this Coalition will greatly aid in our efforts.