2024-10-01 15:55:24
Last year, the Multilateral Development Banks (MDBs) allocated record US$125 billion for climate finance around the world.
As Day.Az reports with reference to Trend, the director of the Department of Sustainability and Climate Change of the Islamic Development Bank said this Said Hussein Quadri (Syed Husain Quadri) at the international conference within the framework of Climate Action Week in Baku.
“Of this amount, $25 billion was allocated for adaptation to climate change,” he noted.
According to him, the IDB, when financing, pays attention to projects focused on more efficient management of water resources, with an emphasis on initiatives aimed at rational use of water in arid regions.
“The second area is supporting sustainable agriculture, including projects that promote the development of resistant varieties of crops. And finally, the third priority area is strengthening early warning systems to reduce the risks of natural disasters,” he emphasized.
It should be noted that Climate Action Week runs from September 30 to October 4, 2024 and is being held in Baku for the first time.
The event will form the basis of the climate agenda ahead of COP29 in Baku in November.
Climate Action Week brings together key stakeholders from a range of sectors such as politics, finance, trade, investment, science, arts, culture, civil society and media.
The first half of the week (September 30 – October 2) will focus on climate solutions involving government agencies, academia and the private sector. In the second half (October 3-4), the emphasis will be on science, education, art, culture and other sectors.
As part of climate week, many events are organized in different parts of the city.