Arab Initiative for Mobilizing Climate Finance for Water

The Arab Initiative for Mobilizing Climate Finance for Water (AIM Climate Finance for Water) aims to build regional capacities to mobilize finance for water action amid changing climate conditions. The initiative supports regional and global commitments to increase adaptation finance to equal mitigation finance. It is particularly relevant for the water-scarce Arab region, where only one-third of international public climate finance flows are directed towards adaptation.

The AIM Climate Finance for Water is closely linked to three regional initiatives on climate finance for water. It supports the Arab Strategy for Water Security in the Arab Region to Meet the Challenges and Future Needs for Sustainable Development 2010-2030 and its action plan. It draws upon efforts to institute a science-based approach for targeting water action at the regional, national and watershed levels, as supported by ESCWA’s Regional Initiative for the Assessment of Climate Change Impacts on Water Resources and Socio-Economic Vulnerability in the Arab Region (RICCAR). It also builds on the Water Scarcity Initiative of the Food and Agriculture Organization of the United Nations.

Our approach

Mobilizing finance for water projects under changing climate conditions requires informed targeting of interventions to support water security, especially in water-dependent sectors such as agriculture, ecosystems and health. Building capacities to develop the climate rationale for water investments can help unlock access to global, regional and multilateral funds aimed at increasing climate resilient investments and achieving balance between mitigation and adaptation portfolios. Increased capacities in developing project pipelines that respond to national needs can also strengthen national commitments and sectoral strategies for mobilizing finance.

ESCWA has launched the AIM Climate Finance for Water to address these needs by engaging a range of stakeholders in the identification and targeting of water projects for climate finance in Arab countries. Special focus is placed on fostering opportunities for multi-country and transboundary projects that support water cooperation under climate change. The ESCWA Arab Centre for Climate Change Policies and the RICCAR Regional Knowledge Hub leverage knowledge resources and partnerships within the Arab region for advancing the initiative.

Our partners

The initiative is launched in partnership with:

• League of Arab States – Technical Secretariat of the Arab Ministerial Water Council (AMWC) and Technical Secretariat of the Council of Arab Ministers Responsible for the Environment (CAMRE)
• Islamic Development Bank (ISDB)
• Green Climate Fund (GCF)
• Food and Agriculture Organization of the United Nations (FAO)
• Government of Sweden

and in collaboration with:

• Arab Centre for the Study of Arid and Drylands (ACSAD) of the League of Arab States
• Arab Fund for Economic and Social Development (AFSED)

Our activities

Under the initiative, ESCWA is implementing the following activities:

1. Preparation of a climate finance policy brief focused on the water sector (2023)
2. Organization of the Arab Forum for Mobilizing Climate Finance for Water that was held during MENA Climate Week (10 October 2023)
3. Organization of workshop on costing adaptation (2024)
4. Tailored training and technical support on the preparation of evidence-based project pipelines on climate finance for water, including national, regional and multi-country projects (2024-2025).