ADB launches $3.5 billion initiative for sustainable water use

This initiative comes in response to the accelerating glacial melt due to climate change

The Asian Development Bank (ADB) launched a new regional initiative, Glaciers to Farms, aimed at promoting sustainable water use and food security in Central Asia, the South Caucasus, and Pakistan.

This initiative comes in response to the accelerating glacial melt due to climate change. The project is supported by the Green Climate Fund’s (GCF) Project Preparation Facility and includes risk assessments of glacial melt in Azerbaijan, Kyrgyz Republic, Tajikistan, and Uzbekistan.

These assessments will serve as the scientific and technical foundation for the Glaciers to Farms program.

Temperatures in the region are projected to rise by up to 6°C by 2100, which threatens the fragile ecosystems, water supply for agriculture, and hydropower. Over 380 million people are at risk.

To address this issue, ADB has collaborated with the COP29 President, Azerbaijan’s Minister of Ecology and Natural Resources, and various other ministers to sign a declaration of support for glacier preservation.

The program aims to mobilize up to $3.5 billion in funding from ADB, GCF, governments, development partners, and the private sector. The funds will target water and agriculture investments, focusing on vulnerable communities, especially in mountain regions impacted by glacial melt.

GCF’s Chief Investment Officer, Henry Gonzalez, highlighted the importance of this initiative in enhancing climate resilience and sustainable development.

The Glaciers to Farms program is one of several ADB initiatives in response to the challenges posed by glacial melt. ADB is working on creating early warning systems and climate-resilient infrastructure in regions like the Hindu Kush Himalayas and other areas across Asia.

In 2025, the United Nations General Assembly will observe the International Year of Glacier Preservation, and Tajikistan will host a conference on glacier preservation next year.

Monitoring Desk
Monitoring Desk
Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Tata partners with Pegatron for new iPhone plant in Tamil Nadu

Under the deal Tata will hold 60% and manage daily operations, while Pegatron provides technical support with 40%