Saudi Arabia has announced to contribute 2.5 billion dollars to Middle East green initiative over the next 10 years.

Addressing the second Middle East Green Initiative Summit in Sharm el-Sheikh, Saudi crown prince Muhammad Bin Salman said the kingdom's Public Investment Fund would aim for net-zero emissions by 2050.

He underlined the need of continued regional cooperation and active contributions by member countries to achieve global climate goals and accelerate the implementation commitments as part of international agreements.

The second Middle East Green Initiative Summit is being hosted by Saudi Arabia in Sharm el-Sheikh on the sidelines of the COP 27 conference.