Islamabad, Feb 27: A delegation from the International Monetary Fund (IMF) visited Pakistan to assess the country’s project selection and evaluation process for concessional climate financing under the Resilience and Sustainability Facility (RSF). The mission, which is part of the lender’s Resilience and Sustainability Trust (RST), aims to allocate approximately $1 billion to support climate adaptation initiatives.
During the visit, IMF representatives engaged with officials from the Planning Division and key stakeholders from all provinces. The primary objective of the assessment was to review how effectively climate resilience measures are incorporated into development projects at the provincial level. The discussions focused on ensuring that climate considerations align with Pakistan’s broader sustainability goals.
Provincial authorities reaffirmed their commitment to adhering to established project planning frameworks. Khyber Pakhtunkhwa (KP) provided insights into its Climate Change Cell, a specialized unit that evaluates all development initiatives for their climate resilience impact. Additionally, KP officials informed the IMF team about their ongoing efforts to establish a Climate Action Board to further strengthen environmental governance.
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The IMF’s engagement in Pakistan will continue for the next three weeks as the mission conducts a detailed analysis of climate-related initiatives and policies. The assessment is crucial for Pakistan’s eligibility to secure concessional funding aimed at strengthening its climate resilience infrastructure.
Pakistan formally applied for climate financing under the RSF in October last year. The funding is expected to play a pivotal role in advancing climate adaptation efforts, reducing vulnerabilities to environmental risks, and integrating sustainability into national development strategies.
