Riyadh Drought Resilience Partnership Secures $2 Billion Funding at COP16
A groundbreaking initiative to combat droughts received a massive boost with $2 billion in funding on the inaugural day of COP16 in Riyadh.
In a momentous gathering of the UN Convention to Combat Desertification, COP16 President Abdulrahman Abdulmohsen Al-Fadhley unveiled the Riyadh Drought Resilience Partnership amidst a day filled with impassioned speeches from high-ranking officials.
Partnership Funding Breakdown
Initially kickstarted with $150 million from Saudi Arabia, the Riyadh Drought Resilience Partnership saw additional financial backing from the Islamic Development Bank and the OPEC Fund for International Development, each committing $1 billion.
Growing Threat of Drought
Drought has emerged as a persistent global challenge, escalating by almost 30 percent in the past two decades and now constituting 15 percent of all natural disasters worldwide. By 2050, an alarming three-quarters of the global population could be impacted, as revealed during the opening session of COP16.
International Support and Commitment
“The launching of the Riyadh Global Drought Resilience Partnership aims at promoting multilateral efforts to promote resilience, namely in the countries most impacted by drought. It includes proactive partnerships to support the UNCCD,” Al-Fadhley emphasized during the announcement of the landmark initiative.
Highlighting the importance of supporting vulnerable nations, Muhammad Al-Jasser of the Islamic Development Bank stressed the ongoing challenge posed by drought, particularly for member countries of the bank.
Echoing this sentiment, a representative from the OPEC Fund for International Development underscored the organization’s commitment to proactive solutions that enhance community well-being and restore degraded land.
Global Urgency for Action
Saudi Arabia’s proactive leadership in launching the Riyadh Drought Resilience Partnership was hailed as a crucial step in addressing the escalating crisis.
“The global community is looking to us for tangible solutions. Strong political will and ambitious targets are essential,” emphasized a South African delegate, urging the adoption of practical measures and collaborative financial strategies to bolster resilience.
Drought: A Present Crisis, Not a Future Threat
Speakers at the ministerial dialogue painted a grim picture of the far-reaching consequences of drought, ranging from diminished crop yields and food insecurity to disrupted water and energy systems.
Warned Saroj Kumar Jha, global director for water at the World Bank, “A child born during a drought is more likely to suffer permanent learning deficiencies, perpetuating cycles of poverty and fragility.”
Unified Action and Innovation
The launch of the World Drought Atlas at COP16 underscored the importance of innovation in addressing the impacts of drought on agriculture, ecosystems, and vulnerable communities.
Technological advancements like early warning systems and satellite monitoring were highlighted as crucial tools in forecasting and mitigating drought risks.
“For every dollar invested in proactive measures such as land restoration, the return can be up to $10,” emphasized UNCCD Executive Secretary Ibrahim Thiaw.
A Defining Moment for Global Resilience
COP16 marks a pivotal shift in addressing drought as a systemic crisis requiring coordinated global action, moving away from reactive crisis response towards long-term preparedness and resilience.
“Drought management must shift from reactive crisis response to long-term preparedness and resilience,” stressed Thiaw, calling for investments in sustainable land management, inclusive solutions, and innovative financing mechanisms.