Islamabad, Oct 21: IMF Climate Financing: Finance Minister to Request $2 Billion This Week
This week, Finance Minister Muhammad Aurangzeb will ask the International Monetary Fund (IMF) for $2 billion in climate finance.
This request comes after another that the IMF Climate Financing did not deem urgent. According to sources, the Ministry of Finance is ready to talk about the suggested finance when it meets with Kristalina Georgieva, Managing Director of the IMF.
According to further sources, Pakistan’s plans for climate change initiatives would be reviewed with the president of the World Bank (WB).
After the current loan program is completed and its aims are implemented, the IMF authorities will assess the initial evaluation reports.
The finance minister is scheduled to return by the end of this week from the IMF/WB meetings, where he will be joined by representatives from the State Bank of Pakistan, the Finance Secretary, and other parties till October 26.
Additionally, he is anticipated to meet with his colleagues from Turkey, Saudi Arabia, the UAE, China, and the UK.
The future of Pakistan’s economy and environment is in jeopardy as the finance minister gets ready to ask the IMF for $2 billion in climate assistance this week. The nation is at a turning point in its history wherein swift action on climate change is required to secure sustainable development.
Pakistan hopes to improve its economic stability and climatic resilience with the help of this possible assistance, giving its people a better future despite the mounting threats posed by climate change worldwide.
