Read MEI’s weekly briefing featuring expert analysis of key regional developments for the week ahead.
The Middle East and North Africa region is one of the lowest recipients of climate finance compared to other areas of the globe, such as East Asia and the Pacific Islands, despite MENA’s exposure to extreme climate risks. The MENA region’s share of climate financing from the big three global climate funds — the Green Climate Fund (GCF), the Climate Investment Funds (CIF), and the Global Environment Facility (GEF) — and their sub-funds made up only 6.6% of their cumulative global financing through 2023.
Since the start of Russia’s full-scale invasion of Ukraine, the threat of sea mines to maritime traffic in the region has become exponentially more acute. The Turkish-Romanian-Bulgarian trilateral minesweeping mission is a welcome sign of regional willingness to cooperate in this space and could, with the right incentives and sufficient political will, open the door to the establishment of a NATO Black Sea Fleet.
Africa-to-Europe value chains in manufacturing and agri-food production can mitigate factors driving current migration patterns by employing Africans in local value-added production and boosting African GDP growth, reorienting Africa-Europe relations towards mutual economic benefit and dignity.
Well over 30 attacks against commercial shipping in the Red Sea have been reported since mid-November 2023, although none have targeted crude oil or liquefied natural gas (LNG) carriers to date. But that is not to say that global energy flows through this critical maritime chokepoint are invulnerable; any harm that came to hydrocarbon carriers traveling into or out of the Red Sea via the Bab el-Mandeb would have far-reaching consequences for international markets.
Azerbaijan will host COP29 at the end of this year. Being selected to host the most important international climate event is a major achievement for the South Caucasus country, though the spotlight it brings will come with its own challenges due to Azerbaijan’s poor human rights record and worsening relations with the West.
Expert regional analysis by MEI scholars and contributors.
In 2017, Saudi Arabia’s Public Investment Fund and a number of Jordanian banks established the Saudi-Jordanian Investment Fund to channel $3 billion into the Jordanian economy. Two SJIF projects provide relevant case studies of the challenges facing Jordan’s broader efforts to attract more FDI and drive economic development.
The European Union just approved membership talks with Kyiv; that’s symbolically important.
But the EU’s postponement of critical military assistance is an alarm bell.
NATO Secretary General Jens Stoltenberg says to prepare for bad news this winter.
German Chancellor Olaf Scholz suggests support for Ukraine may be crumbling across Europe.
And there’s faltering confidence in America, as Europeans are beginning to ask whether the strategic interests of the United States end at its border with Mexico.
How did we get here?
Iran sees lucrative markets across the Black Sea region. It also sees an opportunity to expand strategic cooperation with Russia. And there’s just a chance that America will turn inward in 2025.
It’s all dangerous. To get the picture, start by connecting the dots.
At the September G20 meeting, host country India, along with the United States, the European Union, France, Germany, Italy, Saudi Arabia and the United Arab Emirates (UAE), signed a memorandum of understanding, a non-binding commitment to work towards building two separate “corridors”, essentially envisioning a political line that is connected by some new and some existing, or already under construction, physical infrastructure.
The Oct. 7 Hamas attack against Israel and the latter’s ongoing military operation in Gaza have stalled progress in the development of the India-Middle East-Europe Economic Corridor and raised questions about its prospects for eventual completion. The IMEC faces multiple viability challenges, but none of them are insurmountable; thus, its participants are unlikely to abandon it.
The renewed violence in Gaza could not have come at a less opportune time for the climate agenda in the Middle East. From energy economics to environmental degradation, the ripple effects of conflict will complicate the path ahead.
Outside of the security risks brought about by war, the Israel-Hamas conflict has yet to result in major changes in the regional natural gas market.