Pakistan
ADB to provide $2 billion to Pakistan for climate resilience
Banks president informed this during his meeting with President Zardari
Asian Development Bank (ADB) will provide $2 billion in annual assistance to Pakistan over the next three years.
Bank’s president Masatsugu Asakawa informed this during his meeting with President Asif Ali Zardari in Islamabad. Senator Ms. Sherry Rehman and Senator Saleem Mandviwalla also attended the meeting.
President Zardari emphasized that Pakistan’s climate finance needs were substantial and ADB should extend its support to address the impacts of climate change.
He highlighted that the severe climate changes and devastating floods of 2022 had a profound impact on the country’s economy as well as on its agriculture sector, educational and road infrastructure.
The President briefed the ADB President about the economic and climate-related challenges being faced by Pakistan. He stated that the war on terror had inflicted significant economic damage on the country. The President appreciated the support of ADB towards the socio-economic development of Pakistan. He also thanked the President ADB for assisting Pakistan in the wake of the 2022 floods.
Masatsugu Asakawa, President of the Asian Development Bank (ADB) said that Pakistan is facing severe effects of climate change, particularly with glaciers melting at an accelerated pace.
He said that the ADB would provide $2 billion in annual assistance to Pakistan over the next three years and reaffirmed the bank’s commitment to supporting infrastructure development and climate-resilient initiatives.
Additionally, ADB President commended the recent signs of economic recovery and stabilization in Pakistan.
-
Sports 1 day ago
ICC delegation to arrive Pakistan for Champions Trophy 2025 assessment
-
Business 2 days ago
Gold prices reach highest in history
-
Pakistan 1 day ago
Nation celebrates Eid Milad-un-Nabi with religious zeal
-
Pakistan 1 day ago
PM urges nation to stand against extremism
-
Business 2 days ago
Prices of petroleum products decline
-
Entertainment 9 hours ago
Actor Juvaria Abbasi shares photos of second marriage
-
Crime 8 hours ago
Three terrorists killed in exchange of fire with CTD
-
Entertainment 1 day ago
Renowned Pakistani film director Altaf Hussain passes away