The Arab Coordination Group (ACG), a strategic alliance of ten nationwide and regional improvement establishments, will actively take part within the sixteenth session of the Convention of the Events (COP16) of the United Nations Conference to Fight Desertification (UNCCD), hosted in Riyadh, Saudi Arabia. At COP16, ACG Pavilion Al-ULA B, No. B14, the ACG will spotlight the Group’s impression, in addition to the work of particular person members in advancing revolutionary options and significant collaborations to handle the urgent challenges of land degradation, desertification and drought whereas fostering sustainable land administration.
The joint presence of ACG demonstrates the Group’s dedication to deliver ahead each monetary commitments and revolutionary options at COP16, reinforcing its dedication to tackling desertification and supporting communities impacted by local weather change. Reaffirming sturdy help to Saudi Arabia’s management by way of transformative initiatives such because the Saudi and Center East Inexperienced Initiatives, and the G20 International Land Initiative, the Group will emphasize how regional efforts can drive international change in land restoration, biodiversity conservation and local weather adaptation, restoring livelihoods and ecosystems worldwide.
At COP 16, the ACG will contribute to high-level periods, together with the opening ceremony and a ministerial plenary, the place it’s anticipated to announce a major pledge to boost international land restoration and resilience efforts. ACG participation will focus on a joint pavilion within the Blue Zone [number] that’s to function a hub for collaboration and data alternate. Member establishments will current pioneering tasks, methods and financing options to handle desertification and promote sustainable land use. Greater than 10 facet occasions organized by ACG establishments will additional have interaction international stakeholders.
In 2022, at COP27, the ACG introduced a landmark US$24 billion dedication to handle local weather change. At COP28 the next yr ACG outlined its deployment technique for US$10 billion financing to speed up the worldwide shift to scrub and renewable vitality by 2023. The Group has additionally made a joint pledge to allocate as much as US$50 billion to assist construct resilient infrastructure and inclusive societies within the African continent. In 2023, the Group prolonged roughly US$17 billion collectively to fund almost 500 operations in about 90 international locations and numerous establishments and organizations, addressing international challenges resembling local weather change and meals safety and supporting worldwide commerce.
Distributed by APO Group on behalf of Islamic Growth Financial institution Group (IsDB Group).
In regards to the Arab Coordination Group:
The Arab Coordination Group (ACG) is a strategic alliance that gives a coordinated response to improvement finance. Since its institution in 1975, ACG has been instrumental in growing economies and communities for a greater future, offering greater than 12,000 improvement loans to over 160 international locations across the globe. Comprising of ten improvement funds, ACG is the second-largest grouping of improvement finance institutes on this planet and works throughout the globe to help growing nations and create a long-lasting, optimistic impression. The Group includes the Abu Dhabi Fund for Growth, the Arab Financial institution for Financial Growth in Africa, the Arab Fund for Financial and Social Growth, the Arab Gulf Programme for Growth, the Arab Financial Fund, the Islamic Growth Financial institution, the Kuwait Fund for Arab Financial Growth, the OPEC Fund for Worldwide Growth, the Qatar Fund for Growth and the Saudi Fund for Growth.