Arab funding group pledges $10 billion to tackle land degradation, desertification, drought by 2030
Arab Coordination Group commits to combating environmental challenges at COP16
By Iyad Nabolsi
ISTANBUL (AA) - The Arab Coordination Group said Tuesday it would provide $10 billion by 2030 to combat land degradation, desertification and drought by 2030.
The pledge was made during the 16th Conference of the Parties (COP16) of the United Nations Convention to Combat Desertification (UNCCD), which is being held in the Saudi capital of Riyadh from Dec. 2 - 13.
The group, an alliance established in 1975, offers coordinated responses to development financing. It consists of 10 development funds, making it the second-largest collective of development finance institutions globally.
The funds are expected to support land restoration efforts, enhance resilience to climate change and promote nature-positive development in vulnerable areas, particularly in the Middle East, North Africa and the Sahel region.
- Strategic focus on sustainability
The group highlighted its focus on innovative financing tools, resource mobilization and strengthened partnerships to ensure sustainable land management, biodiversity conservation and food security.
Dr. Muhammad Al Jasser, chairman of the Islamic Development Bank and on behalf of the representative of the Arab Coordination Group, emphasized the group's commitment.
“This $10 billion pledge underscores our shared determination to address some of the most urgent challenges of our time,” he said.
Al Jasser explained that the funds would help restore degraded lands, combat desertification and drought, and enhance the resilience of the most vulnerable communities globally.
The Arab Coordination Group includes institutions such as the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Cooperation Programme for Development, and the Arab Monetary Fund.
It also comprises the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development.
The COP16 conference, themed “Our Land… Our Future,” is attended by representatives from 196 countries, the European Union, experts and civil society organizations.
Discussions will focus Wednesday on land degradation and its profound effects on food security, biodiversity and climate.
*Writing by Mohammad Sio
Kaynak:
This news has been read 47 times in total
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.