The Asian Development Bank and international partners have unveiled the FIELD Initiative, a financing mechanism designed to mobilize $2 billion by 2035 to combat land degradation and strengthen drought resilience across Asia and the Pacific.
The Asian Development Bank (ADB) announced the launch of the Financing Investments and Eradicating Land Degradation and Desertification (FIELD) Initiative, a coordinated effort to address environmental challenges affecting millions of people across Asia and the Pacific. The program aims to raise $2 billion by 2035 to fund land restoration projects and improve drought resilience in the region.
According to the ADB, land degradation and desertification pose significant threats to ecosystems that support rural communities and regional economic development. The multilateral lender highlighted that dryland ecosystems currently support more than 40% of the region's population, with rangelands alone covering 54% of the world's land surface and storing up to 30% of global soil carbon. The initiative seeks to bring approximately 1 million hectares of land under sustainable management by 2035, addressing challenges including soil erosion, worsening drought conditions, and unsustainable land use practices.
FIELD will deploy various financing mechanisms including derisking structures, blended finance, and capital market instruments to attract private investment. The program will provide grants and technical assistance to help developing member countries establish sustainable land management policies and develop capacity. A pipeline of projects focusing on land and forest restoration, as well as river-basin and water management, has already been identified.
The initiative operates as part of the ADB's broader Nature Solutions Finance Hub and aligns with the organization's $40 billion commitment through 2030 to transform regional food systems. International partners expressing interest in collaboration include the United Nations Convention to Combat Desertification (UNCCD), the Qatar Fund for Development, and various European and development organizations.
