The Beirut-based Union of Arab Banks (UAB), a consortium of banks across Arab states aiming to foster economic and banking growth, and the UN Economic and Social Commission for West Asia (ESCWA) have jointly called for $1 trillion in funding to support the Sustainable Development Goals (SDGs) by 2030.
The SDGs are a collection of 17 global goals set by the United Nations to achieve a better and more sustainable future for all.
This announcement was made on the opening day of the two-day SDG summit in New York, according to an ESCWA statement.
The pledged financing is aimed at fast-tracking the SDGs in 22 Arab states, targeting key areas such as social protection, energy, education, food systems, digital transformation, and biodiversity. The statement indicated that potential beneficiaries of this initiative range from governments and businesses—including micro, small, and medium-sized enterprises—to households across the Arab region.