IDB pledges $4.2bn for Pakistan's climate resilience
Pakistan
IDB pledges $4.2bn for Pakistan’s climate resilience
GENEVA (Dunya News) - Islamic Development Bank (IDB) has pledged to finance an amount of $4.2 billion over the next three years for the achievement of Pakistan’s climate resilience and development objectives.
The announcement was made by the President of the Bank, Muhammad Al Jasser while addressing the International Conference on Climate Resilient Pakistan in Geneva.
He said this amount includes six hundred million dollars of ordinary capital resources from the Islamic Development Bank.
Also read: US to give extra $100 million to Pakistan floods recovery
On this occasion, Prime Minister Shehbaz Sharif thanked Islamic Development Bank’s financing pledge saying it is very heartening and encouraging.
He assured that his government will leave no stone unturned to implement the reconstruction and rehabilitation plan in letter and spirit.
Earlier, Foreign Minister Bilawal Bhutto Zardari said on Monday Pakistan needs considerable support over the next several years from international partners to ensure rehabilitation and reconstruction in the flood-hit areas.
Speaking at the inaugural session of the International Conference on Climate Resilient Pakistan in Geneva on Monday, he said Pakistan will transform the challenging recovery, and reconstruction into an opportunity to build a more resilient Pakistan and economy, which is dynamic and suitable. We are determined to do it in an open, transparent, collaborative way.
The Foreign Minister said the conference demonstrates international solidarity with Pakistan as it begins its journey towards building back better. We see this conference as a commencement of the long-term partnership with our friends and development partners. He said we look forward to the generous and sustained commitments from the international community.
Highlighting the devastation caused by recent floods in Pakistan, Bilawal Bhutto Zardari said around 33 million people, including 16 million children and 600,000 pregnant women, were severely affected by the floods.
He said many areas of Pakistan are still under water even after the passage of six months. He said we are still conducting our relief operations and are looking forward to our reconstruction and rehabilitation.
