RIYADH: The Arab Coordination Group announced its commitment to provide $10 billion by 2030 to address the pressing issues of land degradation, desertification, and drought. This significant pledge was made during the 16th Conference of the Parties (COP16) of the United Nations Convention to Combat Desertification (UNCCD), currently being held in Riyadh.
According to Anadolu Agency, the Arab Coordination Group, established in 1975, is the second-largest collective of development finance institutions globally, comprising 10 development funds. These funds are earmarked to support land restoration initiatives, bolster climate resilience, and encourage nature-positive development in regions that are especially vulnerable, including the Middle East, North Africa, and the Sahel.
The group underscored its strategic focus on sustainability through the use of innovative financing tools, resource mobilization, and strengthened partnerships. These efforts are aimed at ensuring sustainable land management, biodiversity
conservation, and food security. Dr. Muhammad Al Jasser, chairman of the Islamic Development Bank, speaking on behalf of the Arab Coordination Group, reiterated their dedication to these goals, stating, “This $10 billion pledge underscores our shared determination to address some of the most urgent challenges of our time.”
Dr. Al Jasser elaborated that the financial commitment is intended to aid in the restoration of degraded lands, combat desertification and drought, and improve the resilience of the most vulnerable communities around the world. The Arab Coordination Group includes notable institutions such as the Abu Dhabi Fund for Development, Arab Bank for Economic Development in Africa, Arab Fund for Economic and Social Development, and several others.
The COP16 conference, themed ‘Our Land… Our Future,’ brings together representatives from 196 countries, the European Union, experts, and civil society organizations. Scheduled discussions are set to focus on the significant impact of land degradation on
food security, biodiversity, and climate change, continuing the dialogue on Wednesday.