On the sidelines of COP26, ESCWA Executive Secretary Rola Dashti participated in a discussion organized with the Executive Secretaries of UNECA, UNESCAP, UNECE, and UNECLAC on the perspectives and key initiatives taken by the UN regional commissions to bridge the gap in climate finance.
Dashti focused on the Climate/SDGs Debt Swap Mechanism, launched by ESCWA last year, to support Arab countries in their struggle with climate finance, high debt burdens, and fiscal pressures.
The mechanism converts national debt-servicing payments on foreign debt into domestic investment for implementing climate-resilient projects through collaborative arrangements between debtors, creditors and donors.
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