The International Monetary Fund (IMF) has announced that its review mission will visit Pakistan to negotiate the next section of the loan of $ 7 billion, with discussions that will also focus on climate financing.
The IMF delegation is scheduled to get to Pakistan in early March to carry out the first review of the current loan program.
According to the IMF representative in Pakistan, Maahir Binsi, the delegation will participate in conversations about the next delivery of the loan and will also review the technical aspects of climate financing at the request of Pakistan.
A separate mission of the IMF is expected to focus on the climate -related financial agreements, visit Pakistan at the end of February.
During this visit, the technical team will evaluate the ongoing climate financing initiatives and review the possible agreements for future support.
These discussions are part of Pakistan’s efforts to ensure financial resources to combat climate change, which has had a significant impact on the country in recent years.
In addition, the IMF mission will also arrive in Islamabad next week to discuss around $ 1 billion in climate financing for Pakistan, an advisor to the Minister of Finance of Pakistan said Thursday.
Finance Minister Khurram Schehzad said Reuters that the mission would visit from February 24 to 28 for a “review and discussion” of the financing of climate resilience.
The disbursement will take place under the resistance and sustainability trustee of the fund, created in 2022 to provide long -term concessional cash for weather -related spending, such as adaptation and transition to cleaner energy.
Pakistan made a formal request in October last year for about $ 1 billion in IMF funds under the trust, to address the vulnerability of the nation to climate change.
The economy of the country is on a long way to recovery after being stabilized under an extended fund installation of $ 7 billion of the IMF that it obtained at the end of last year.
Another IMF mission will arrive in Pakistan in the first week of March for a first review of that installation, Schehzad said.
The global climate risk index places Pakistan among the countries most vulnerable to climate change.
Floods in 2022, which scientists said they were aggravated by global warming, affected at least 33 million people and killed more than 1,700. The country’s economic struggles and the high debt load prevented their ability to respond to disaster.
