World-leading climate initiatives to be developed through £108m UK programme in Pakistan
21 November 2024,Islamabad: Minister for the Middle East, Afghanistan and Pakistan, Hamish Falconer, announced a new £108 million climate finance programme. This funding will encourage new climate technologies and private sector investment, benefitting both the planet and Pakistani businesses.
Recognising the global threat posed by climate change, this first-of-its-kind programme will be delivered in partnership with the International Finance Corporation (IFC). As the largest single country blended finance facility, it will invest in local businesses to help them develop the technologies and meet the significant investments needed to adapt to the threats Pakistan faces from climate change.
The UK and IFC will then reinvest any profits from projects back into the facility, financing e...