Pakistan Gets a $10 Million Climate Financing Initiative from USAID
The Pakistan Climate Financing Activity, a four-year, up to $10 million project targeted at enhancing sustainability and climate resilience in Pakistan, was introduced today by the United States Agency for International Development (USAID)/Pakistan. This programme, which is funded by USAID, demonstrates the government of the United States’ unwavering commitment to promote prudent use of natural resources and address climate change. It is a big step in the right direction towards achieving the goals set forth in the context of the U.S.-Pakistan “Green Alliance”.
Pakistan’s shift to a low-carbon, climate-resilient economy will be aided by the USAID Pakistan Climate Financing Activity. The programme seeks to mobilise public and private, local and international funds for actions related to climate reduction, resilience, and adaptation through focused technical support. Representatives from Pakistan’s provincial government departments, the Ministry of Climate Change and Environmental Coordination, the private sector, development partners, decision-makers from Pakistan’s financial industry, and academia were among the prominent guests at the launch event held in Islamabad.
“The USAID Pakistan Climate Financing Activity will support innovative projects tailored to Pakistan’s context, scaling up efforts to build climate resilience,” said USAID Deputy Mission Director Maura O’Brien in her address to the audience. The objective of this project is to enhance Pakistan’s ability to successfully address climate change by utilising evidence-based solutions. I have no doubt that the Pakistan Climate Financing Activity will close gaps, meet demands, and eventually strengthen Pakistan’s ability to successfully combat climate change.
The Ministry of Climate Change and Environmental Coordination’s Special Coordinator, Ms. Romina Khurshid, echoed USAID’s words when she said, “The Government of Pakistan warmly welcomes this initiative from the United States, aimed at bolstering our nation’s climate resilience, mitigation, and adaptation efforts.” Although Pakistan has made progress in creating a novel climatic landscape, funding shortages continue to be a major barrier. In order to address the issues raised by climate change, this activity will work as a catalyst for coordinated action including the public and commercial sectors, environmental specialists, and development partners.
The USAID Pakistan Climate Financing Activity complements the organization’s main worldwide effort aimed at strengthening climate investment in developing and vulnerable nations. Through equitable de-risking and catalysis of climate financing, this programme seeks to strengthen Pakistan’s ability to adapt to climate change by using investments from the public and private sectors.
Sub-Editor: Ghufran