Abstract:
This policy brief delves into the paramount necessity for augmented climate adaptation finance streams within the Middle East and North Africa (MENA) region. Given that the region faces climate change repercussions at a rate twice that of the global average, the brief emphasizes the substantial threats to water resources, agriculture, and urban infrastructure. An assessment is made regarding the region's readiness for adaptation and the existing landscape of adaptation funding, highlighting a predominant reliance on debt-centered instruments. The brief advocates for a diversified array of financial mechanisms, heightened grant assistance, and innovative approaches such as debt-for-climate exchanges. It also furnishes essential policy recommendations to galvanize private sector investment, bolster the influence of sovereign wealth funds, and fortify regional collaboration to confront the urgent challenges of climate adaptation.
Description:
The policy brief delves into the pressing requirement for climate adaptation finance in the Middle East and North Africa (MENA) region. It underscores the rising climate threats and their detrimental effects on water scarcity, agricultural yield, and infrastructure. Furthermore, it evaluates the discrepancies in adaptation capabilities within the region, stresses the importance of amplifying adaptation funding, and scrutinizes the existing financial framework. Additionally, the brief explores inventive financial tools like debt-for-climate swaps and offers essential policy suggestions to bolster adaptation initiatives and financial structures.
