The Asian Development Bank (ADB) and its partners have launched a new regional initiative aimed at mobilizing at least $2 billion by 2035 to address land degradation, desertification and drought resilience across Asia and the Pacific.
Announced in Ulaanbaatar, Mongolia, during the 17th Session of the Conference of the Parties to the United Nations Convention to Combat Desertification, the Financing Investments and Eradicating Land Degradation and Desertification (FIELD) Initiative will support countries in developing and financing land restoration projects.
The initiative will use innovative financing mechanisms, including blended finance, risk-sharing structures and capital market instruments, to attract greater private-sector investment. An initial pipeline includes projects focused on land and forest restoration, river-basin management and water resources.
Land degradation and worsening drought are putting increasing pressure on ecosystems that support more than 40% of the region’s population. The challenges threaten agricultural production, biodiversity, livelihoods and access to food and water.
By 2035, FIELD aims to bring around 1 million hectares of land under sustainable management while providing grants and technical assistance to help countries strengthen policies, build capacity and develop investment-ready projects.
The initiative forms part of ADB’s broader efforts to expand nature-positive investment and strengthen climate and environmental resilience across the region. Its partners include the UNCCD, Qatar Fund for Development, Middle East Green Initiative, European Union, IUCN, OPEC Fund and Germany’s development cooperation institutions.
With land degradation and drought risks intensifying across Asia and the Pacific, the FIELD Initiative represents a major effort to connect land restoration with large-scale climate finance, private investment and sustainable development.
