RIYADH: The Arab Fund for Economic and Social Development is set to launch a new Water Observatory aimed at boosting investments in sustainable water solutions across the region.
Announced at the 16th session of the UN Convention to Combat Desertification’s Conference of the Parties in Riyadh, this initiative is designed to improve data collection and accessibility on water-related projects.
The observatory will provide vital data and insights to stakeholders, helping them make informed decisions to address the growing challenges of water scarcity.
The initiative is aligned with the Arab Fund’s ongoing commitment to combat water scarcity, a critical issue in a region where 12 countries face severe water shortages, each with less than 500 cubic meters of water per capita annually.
“Addressing water scarcity requires billions in investments, but these resources must be strategically allocated to create meaningful, long-term impact,” said Merza Hasan, senior adviser to the chairman of the Arab Fund for Economic and Social Development.
“By collaborating with regional and global partners from the public and private sectors, as well as financial institutions, we can address overconsumption and ensure water sustainability for future generations.”
The fund’s statement emphasized that the observatory will foster collaboration and attract investments to solve the region's urgent water management challenges.
At COP16, the fund reaffirmed its commitment to enhancing regional water and food security, noting its support for the Riyadh Green Initiative. This is part of a broader $10 billion pledge by the Arab Coordination Group to promote sustainable development in the region.
In addition, the fund hosted two events. One focused on advancing water management policies, exploring innovative financing mechanisms, and fostering international partnerships. The other brought together private sector leaders to share strategies and experiences on successful water-related investments, emphasizing the essential role the private sector plays in addressing water scarcity.
Moreover, the Arab Fund held high-level bilateral meetings with ACG member states, senior government officials, and representatives from regional and global development organizations, including UN agencies. These discussions aimed to explore potential partnerships and co-financing opportunities to advance the Sustainable Development Goals across the Arab region.
To date, the Arab Fund has financed 671 projects totaling 10.72 billion Kuwaiti dinars ($34.87 billion), benefiting 22 countries.
