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Arab Coordination Group promises $24B financing to face climate change

Arab Coordination Group promises $24B financing to face climate change

ArabFinance: The Arab Coordination Group (ACG) pledged $24 billion in financing by 2030 to tackle climate change, Asharq Business reported on November 9th.

The announcement came on the sidelines of the United Nations Climate Change Conference (COP27) which is held in Sharm El-Sheikh between 6 and 18 November.

ACG consists of four bilateral and six multilateral Arab development financial institutions: Abu Dhabi Fund for Development, Arab Bank for Economic Development in Africa, Arab Fund for Economic and Social Development, Arab Gulf Program for Development, Arab Monetary Fund, Islamic Development Bank, Kuwait Fund for Arab Economic Development, OPEC Fund for International Development, Qatar Fund for Development, and Saudi Fund for Development.

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