‘Middle East Green Initiative’ Aims to Launch Projects in Multiple Countries by 2025

A group photo of participants at the Jeddah meeting, which approved the membership of 10 countries (Ministry of Environment)
A group photo of participants at the Jeddah meeting, which approved the membership of 10 countries (Ministry of Environment)
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‘Middle East Green Initiative’ Aims to Launch Projects in Multiple Countries by 2025

A group photo of participants at the Jeddah meeting, which approved the membership of 10 countries (Ministry of Environment)
A group photo of participants at the Jeddah meeting, which approved the membership of 10 countries (Ministry of Environment)

Dr. Osama Faqih, head of the executive committee for the “Middle East Green Initiative,” announced plans to launch several qualifying projects in member countries by the end of 2025.

He also stated that the initiative will establish a secretariat and outlined specific criteria for selecting the Secretary-General, who will be approved by the executive committee and the ministerial council.

Faqih outlined the implementation phases of the initiative, starting with a founding team of 16 regional countries and an executive committee of 20 founding states. This committee will establish the governance for the initiative, as projects will be based in member countries.

Speaking to Asharq Al-Awsat, Faqih explained that funding will come from regional and international countries, the private sector, and various financial institutions, according to the initiative’s charter.

He noted that Crown Prince Mohammed bin Salman announced a donation during the second summit of the Middle East Initiative in Sharm El Sheikh, Egypt, held alongside the Climate Conference. The secretariat will be located in Riyadh.

Membership in the initiative is divided into two categories: regional countries, which include Central and Southwestern Asia, North Africa, and sub-Saharan Africa, can host projects and contribute to achieving the initiative's goals. Non-regional countries can also join to support financial and technical funding.

The initiative prioritizes land rehabilitation, with Faqih highlighting the global challenges of land degradation and desertification.

He noted that over 99% of the world’s calories and about 95% of food come from land, making these issues critical for food security. The initiative aims to rehabilitate 200 million hectares of land in member countries, providing significant environmental, economic, and social benefits, such as carbon storage, vegetation growth, food security, and social welfare.

Faqih’s comments followed the first session of the ministerial council for the “Middle East Green Initiative,” held in Jeddah, Saudi Arabia.

The council welcomed ten regional countries and one non-regional country, the United Kingdom, as an observer.

They also set ambitious national policies and targets for vegetation development, agreeing on a governance structure that includes 32 elements covering the organizational framework, secretariat, project types, submission mechanisms, evaluation criteria, and funding processes.

Saudi Minister of Environment, Water, and Agriculture Abdulrahman Al-Fadley, who chaired the session, emphasized the need for regional cooperation to enhance vegetation development and address environmental challenges, particularly desertification and limited greenery in the region.

He indicated that the meeting marks a shift to the implementation phase, urging all member countries, both regional and non-regional, to join and actively participate in the initiative and its trust fund.



US Labor Market Slows Despite Job Adds in May

Commuters cross Pennsylvania Avenue in Washington, DC, during the morning rush hour. (Roberto Schmidt/AFP/Getty Images)
Commuters cross Pennsylvania Avenue in Washington, DC, during the morning rush hour. (Roberto Schmidt/AFP/Getty Images)
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US Labor Market Slows Despite Job Adds in May

Commuters cross Pennsylvania Avenue in Washington, DC, during the morning rush hour. (Roberto Schmidt/AFP/Getty Images)
Commuters cross Pennsylvania Avenue in Washington, DC, during the morning rush hour. (Roberto Schmidt/AFP/Getty Images)

The United States added 139,000 jobs in May, more than expected but pointing to a labor market that continues to slow.

The employment data released Friday by the Bureau of Labor Statistics exceeded forecasts for about 120,000 payroll gains but marked a decline from the revised 147,000 jobs added in April. The unemployment rate held steady at 4.2%, remaining near historic lows.

Stocks surged at Friday's open, with all three major indexes gaining about 1%.

In return, US government borrowing costs climbed as investors anticipated the Federal Reserve would keep interest rates higher for longer, making it less attractive to hold US debt.

The BLS report showed job losses in the federal government continued to pile up, with that sector shedding 22,000 roles in May alone.

The federal workforce is down by 59,000 since January, largely due to sweeping cuts by the Trump administration and multibillionaire tech executive Elon Musk's Department of Government Efficiency project.

Even as the economy continued to add jobs at a relatively steady clip last month, the report showed other signs of a weakening labor market.

The ratio of employed workers to the total population fell to 59.7%, its lowest since the pandemic.

An alternative measure of unemployment that includes “discouraged” workers, or those who have stopped looking for work, returned to a post-pandemic high of 4.5%.

But President Donald Trump cheered the numbers, posting on his Truth Social platform Friday morning: “AMERICA IS HOT! SIX MONTHS AGO IT WAS COLD AS ICE! BORDER IS CLOSED, PRICES ARE DOWN. WAGES ARE UP!”

Trump had urged Federal Reserve Chairman Jerome Powell to slash interest rates by a full percentage point.

“Too Late' at the Fed is a disaster!” Trump wrote in a post on Truth Social.

In reality, employers added 212,000 jobs in November, unemployment was at 4.1%, the 12-month average of hourly pay gains have softened from nearly 4.2% then to 3.9% in May, and both the labor force participation rate and the employment-to-population ratio were slightly higher.

Only consumer prices have meaningfully cooled, ticking down from an annual inflation rate of 2.7% in November to 2.3% in April, the latest month with available data.

Analysts at Capital Economics called the May jobs report “not as good as it looks.”

Still, they wrote in a note Friday, “it shows that tariffs are having little negative impact” and added that the Federal Reserve is likely to continue holding interest rates steady “while it assesses the effects of policy changes on the economy.”