Pakistan likely to receive $200 million under IMF climate program

An important development has come to light for Pakistan in the global financial meetings being held in Washington. According to sources, Pakistan is likely to get $200 million under the IMF’s Resilience and Sustainability Facility program. An important meeting of the IMF board is expected on Friday in which this decision regarding Pakistan may be announced.

This funding will be given to combat climate change as Pakistan is among the countries in the world that are most affected by climate change. Pakistan presented its position on financial resources and budget priorities for climate action in the Washington meetings and consultations are also underway on increasing international financial assistance for environmental projects.

The government has decided to intensify institutional cooperation to deal with climate challenges and has also indicated to give climate policy a major priority in the national budget. It should be noted that international financial institutions are currently placing special emphasis on increasing environmental funding for developing countries and this amount will be an important link in this regard for Pakistan.