“Arab Coordination” pledges $10 billion by 2030 to combat desertification and land degradation.
RIYADH, 4th December, 2018 (WAM) — The Arab Coordination Group, a strategic alliance that includes ten leading development finance institutions, announced a historic commitment of up to 10 billion US dollars by 2030, to address the critical challenges of land degradation, desertification and drought, during the Ministerial Dialogue on… Financing under the slogan: “Unlocking public and private financing for land restoration and drought resilience”, at the sixteenth session of the Conference of the Parties (COP16) of the United Nations Convention to Combat Desertification, which Hosted by Riyadh, in the Kingdom of Saudi Arabia.
This transformative commitment, made as part of a joint statement issued by the heads of institutions of the Arab Coordination Group, will advance land restoration efforts, strengthen climate resilience and promote nature-positive development in vulnerable areas.
Members of the Arab Coordination Group will seek to benefit from innovative financing tools, mobilize resources and strengthen partnerships to support sustainable land management, biodiversity conservation and food security, especially in the Middle East, North Africa and the Sahel region.
His Excellency Dr. Mohammed Al-Jasser, President of the Islamic Development Bank Group, said on behalf of the Arab Coordination Group that the Arab Coordination Group’s pledge of $10 billion confirms our shared determination to address some of the most pressing challenges of our time. By restoring degraded lands and combating desertification and drought, we We not only preserve ecosystems, but also secure livelihoods and strengthen resilience in the world’s most fragile communities.
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