ISLAMABAD - The Ministry of Climate Change (MoCC) and the World Bank on Tuesday agreed to jointly work to boost Pakistan’s climate resilience against devastating impacts of climate change including floods, heat waves and achieve environmental sustainability.
Regional Vice President of the World Bank Group for South Asian Region Hartwig Schafer on Tuesday called on Special Assistant to Prime Minister on Climate Change Malik Amin Aslam, a statement released by the ministry said.
Both sides agreed to jointly work to boost Pakistan’s climate resilience against devastating impacts of climate change including floods, heat waves and achieve environmental sustainability by increasing investment in green and clean energy sectors and enhancing the country’s technical know-how and capacity of the concerned sectors related to food, water, agriculture, forestry, clean and renewable energy sectors, the statement said.
Malik Amin Aslam shared details of Prime Minister Imran Khan’s various clean and green initiatives including 10 Billion Tree Tsunami, Recharge Pakistan, Green Stimulus, Protected Areas Initiatives, Electric Vehicle Policy, Ecosystem Restoration Initiative and Innovative Financing based on performance relating to nature based solutions being implemented by the climate change ministry.
Hartwig Schafer praised the PM’s initiatives and vision for green and environmentally-sustainable and climate-resilient Pakistan.
The World Bank official informed the SAPM that International Development Association (IDA) is the part of the World Bank that helps the world’s poorest countries and the future IDA window of the WB will have 30% development finance linked to climate change co-benefits.
The WB official suggested that IDA window offers a great opportunity for Pakistan to benefit from it for financially and technically supporting the clean and green initiatives of Pakistan.
Malik Amin Aslam thanked for the offer to benefit from the WB’s IDA financing window and vowed to make efforts to mop up funding from the IDA window to further support the PM’s clean and green Pakistan initiatives.