The Arab Fund Launches Water Observatory to Advance Investments in Regional Water Security at COP16

Riyadh, Kingdom of Saudi Arabia, December 9, 2024–The Arab Fund for Economic and Social Development (AFESD) unveiled its plans to establish a Water Observatory at the 16th session of the Conference of the Parties (COP16) of the United Nations Convention to Combat Desertification (UNCCD), held in Riyadh.

This groundbreaking initiative underscores the Arab Fund's commitment to addressing the critical issue of water scarcity in the Arab region. The region is home to 12 of the world’s most water-scarce countries with less than 500 cubic meters per capita per year. By championing sustainable water management solutions, the Observatory is set to become a cornerstone in strengthening regional resilience to water challenges.

“Combating water scarcity demands billions in investment, but these funds must be strategically allocated to create tangible change and lasting impact,” said Dr. Merza Hassan, Senior Advisor to the Chairman of the Arab Fund for Economic and Social Development. “By collaborating with regional and global partners across the public and private sectors, as well as financial institutions, we can tackle issues of overconsumption and ensure water sustainability for future generations.”

The Water Observatory aims to enhance data collection and accessibility on water-related projects, providing critical information to stakeholders for informed decision-making. Its mission is to drive collaborative efforts and enable investments that address the Arab region’s pressing water management challenges.

At COP16, the Arab Fund reaffirmed its dedication to advancing regional water and food security. This commitment is highlighted by its support of the Riyadh Green Initiative as part of the Arab Coordination Group's (ACG) collective $10 billion pledge to drive sustainable development in the region.

The Arab Fund also hosted two high-impact events under the theme “From Thirsty to Prosperity.”

• The first event focused on advancing water management policies and regulations while exploring innovative financing mechanisms to foster global collaboration.
• The second event brought private sector leaders together to share perspectives and insights on successful water-related investments, emphasizing the critical role of the private sector in addressing water scarcity.

In addition to these initiatives, the Arab Fund conducted high-level bilateral meetings with ACG member states, senior government officials, and representatives from regional and global development institutions including the United Nations agencies and funds. These discussions centered on fostering potential partnership and co-financing opportunities to support Sustainable Development Goals (SDGs) across the Arab region.

About Us:

The Arab Fund for Economic and Social Development is a leading regional financial institution dedicated to enhancing social and economic development in the Arab world. Through strategic investments and partnerships, the Fund focuses on addressing key challenges, including water security, with five priority sectors such as energy, transport, healthcare and education complimented by five cross cutting thematic areas priority areas.