The Arab Coordination Group (ACG) has committed up to $10 billion to fight land degradation, desertification, and drought by 2030. The announcement came during the UN Convention to Combat Desertification’s COP16 conference in Riyadh, Saudi Arabia.
The initiative will focus on restoring degraded lands and enhancing climate resilience across vulnerable regions, particularly in the West Asia, North Africa, and the Sahel. Islamic Development Bank Group Chairman Dr. Muhammad Al Jasser emphasized that the pledge aims to preserve ecosystems while securing livelihoods in vulnerable communities.
This latest commitment draws from several previous ACG pledges, including $50 billion for African infrastructure announced in November 2023, $24 billion for climate finance from COP27 in 2022, and $10 billion for food security declared in June 2022. The group plans to utilize innovative financing instruments and partnerships to achieve its goals in sustainable land management and biodiversity conservation.
The Arab Coordination Group is a strategic alliance of ten major development finance institutions focused on fostering economic and social development in emerging markets. Established to coordinate aid and development efforts, its members include prominent organizations like the Islamic Development Bank, the OPEC Fund for International Development, and various Arab national and regional development funds.