3rd December 2024, Riyadh Saudi Arabia: The Arab Coordination Group (ACG), a strategic alliance of ten national and regional development institutions, will actively participate in the 16th session of the Conference of the Parties (COP16) of the United Nations Convention to Combat Desertification (UNCCD), hosted in Riyadh, Saudi Arabia. At COP16, ACG Pavilion (Al-ULA B, No. B14), the ACG will highlight the Group’s impact, as well as the work of individual members in advancing innovative solutions and meaningful collaborations to address the pressing challenges of land degradation, desertification and drought while fostering sustainable land management.
The joint presence of ACG demonstrates the Group’s commitment to bring forward both financial commitments and innovative solutions at COP16, reinforcing its dedication to tackling desertification and supporting communities impacted by climate change. Reaffirming strong support to Saudi Arabia’s leadership through transformative initiatives such as the Saudi and Middle East Green Initiatives, and the G20 Global Land Initiative, the Group will emphasize how regional efforts can drive global change in land restoration, biodiversity conservation and climate adaptation, restoring livelihoods and ecosystems worldwide.
At COP 16, the ACG will contribute to high-level sessions, including the opening ceremony and a ministerial plenary, where it is expected to announce a significant pledge to enhance global land restoration and resilience efforts. ACG participation will center around a joint pavilion in the Blue Zone that is to serve as a hub for collaboration and knowledge exchange. Member institutions will present pioneering projects, strategies and financing solutions to address desertification and promote sustainable land use. More than 10 side events organized by ACG institutions will further engage global stakeholders.
In 2022, at COP27, the ACG announced a landmark US$24 billion commitment to address climate change. At COP28 the following year ACG outlined its deployment strategy for US$10 billion financing to accelerate the global shift to clean and renewable energy by 2023. The Group has also made a joint pledge to allocate up to US$50 billion to help build resilient infrastructure and inclusive societies in the African continent. In 2023, the Group extended approximately US$17 billion collectively to fund nearly 500 operations in about 90 countries and various institutions and organizations, addressing global challenges such as climate change and food security and supporting international trade.
About the Arab Coordination Group
The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Since its establishment in 1975, ACG has been instrumental in developing economies and communities for a better future, providing more than 12,000 development loans to over 160 countries around the globe. Comprising of ten development funds, ACG is the second-largest grouping of development finance institutes in the world and works across the globe to support developing nations and create a lasting, positive impact. The Group comprises 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 Programme for Development, the Arab Monetary Fund, 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.