- The ACG financing will support sustainability in Africa initiatives such as energy security and transition.
- It will also support regional integration and connectivity, trade finance and facilitation, gender and youth initiatives.
- ACG has been a long-standing supporter of African countries and has invested over $220 billion in the region.
Stepping up their support for African partner countries ahead of the COP28 climate change conference, the Arab Coordination Group (ACG) has announced it will allocate up to $50 billion to help build resilient infrastructure and inclusive societies in Africa.
COP28, held from 30 November to 12 December 2023 in Dubai, signifies a crucial moment in the global endeavor to tackle climate change. Notably, it will witness the completion of the initial worldwide assessment of the Paris Agreement, providing the international community a pivotal chance to adjust course and enhance collective commitment to restrict warming to 1.5°C.
The announcement of $50 …
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