Pakistan ADB Ink $500M Deal to Combat Climate Change
Pakistan partners with ADB in a $500M loan agreement to enhance climate and disaster resilience. Learn about the Climate and Disaster Resilience Enhancement Program.
Pakistan has taken a major step towards enhancing its climate resilience by signing a $500 million loan agreement with the Asian Development Bank (ADB). The funds are allocated for the Climate and Disaster Resilience Enhancement Program (CDREP), aimed at mitigating the impacts of climate change and natural disasters.
Key Focus Areas of CDREP:
- Climate Resilience: Strengthening Pakistan's capacity to adapt to climate-induced stresses and shocks.
- Disaster Risk Management: Enhancing disaster preparedness and response mechanisms across the country.
- Institutional Strengthening: Improving coordination and capacity among government agencies and stakeholders involved in climate action.
The agreement, approved by Federal Minister for Economic Affairs Ahad Cheema, highlights Pakistan's dedication to tackling climate challenges with international support. This collaboration reflects ADB's commitment to fostering sustainable development and resilience in the region.
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