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Discussions on “Financing Climate-Resilient Water Investments in Islamic Development Bank Member Countries” were held within the framework of COP29.

Discussions on “Financing Climate-Resilient Water Investments in Islamic Development Bank Member Countries” were held within the framework of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change.

The event, which took place at the Islamic Development Bank Group pavilion located in the “Blue Zone”, discussed financing strategies to mitigate the impacts of climate change on water resources and strengthen climate-resilient water investments in IDB member countries.

During the discussions, Majnun Mammadov, Minister of Agriculture of Azerbaijan, Nurlan Baybazarov, Deputy Prime Minister and Minister of National Economy of the Republic of Kazakhstan, and Muhammad Al-Jassar, President of the Islamic Development Bank Group, shared their countries’ efforts in the field of water resources management and their views on regional initiatives at a time when the pressures caused by climate change are increasing.

Speaking at the panel discussions, Mark Smith, Director General of the International Water Management Institute, and Lyaziza Sabirova, Head of Regional Cooperation and Integration, Central and West Asia Department, Asian Development Bank, provided information on leading approaches to adapting water resources to climate change and ongoing initiatives in Azerbaijan.

The session, moderated by Seyid Huseyn Quadri, Director of the Sustainability and Climate Action Department of the Islamic Development Bank, exchanged views on partnerships between the public and private sectors to support climate-resilient water infrastructure and financing mechanisms.

The participants noted that the panel discussions are in line with the climate-resilient development and sustainability goals of COP29 in terms of expanding regional cooperation and mobilizing financial resources to ensure sustainable water management. These discussions will serve as an experimental basis for more advanced organization of sustainable water management in the participating countries.