ADB approves $500 million loan to boost climate resilience in Pakistan
dawn.com —
The Asian Development Bank (ADB) has approved a $500 million loan to enhance climate change resilience and disaster risk management in Pakistan. This funding aims to improve planning, preparedness, and response to climate-related disasters. The Climate and Disaster Resilience Enhancement Programme will focus on increasing investments in disaster risk reduction and support innovative financing solutions, including a domestic green Sukuk. It will also implement a new disaster financing option for quicker budget support during emergencies. Additionally, ADB has granted $1 million for technical assistance to help implement the program. This initiative addresses the significant impact of climate change on vulnerable populations in Pakistan.