Islamabad, November 21, 2024 – In a significant step toward addressing the growing challenges of climate change and natural disasters, Pakistan and the Asian Development Bank (ADB) have signed a landmark agreement worth $500 million. This collaboration is aimed at enhancing Pakistan's capacity to adapt to climate change, strengthen disaster resilience, and mitigate the risks posed by natural disasters. The agreement was formalized today in Islamabad by Dr. Kazim Niaz, Secretary of Pakistan’s Ministry of Economic Affairs, and Emma Fan, Country Director of ADB in Pakistan.
The funding, provided by the ADB, will be used to support various initiatives under Pakistan’s broader climate adaptation and disaster risk reduction strategy. The project is designed to enhance the country's resilience to the adverse effects of climate change, including extreme weather events, flooding, droughts, and other natural calamities. These initiatives will focus on improving the preparedness of communities, strengthening infrastructure, and developing comprehensive systems for disaster management.
Federal Minister for Economic Affairs, Ahad Khan Cheema, who was present at the signing ceremony, expressed the Pakistani government’s strong commitment to addressing the challenges posed by climate change. In a statement following the agreement, Minister Cheema emphasized that the program will play a crucial role in enhancing the country’s adaptive capacity and building a more resilient infrastructure to withstand natural disasters. He highlighted that Pakistan, being one of the most vulnerable countries to the impacts of climate change, has prioritized efforts to mitigate disaster risks and promote sustainability.
The partnership with ADB is seen as a vital step in Pakistan's efforts to align with international climate goals and accelerate progress toward building climate-resilient infrastructure. The funding will be used for a range of projects, including the construction of climate-resilient infrastructure, the development of early warning systems, the strengthening of disaster response capabilities, and the promotion of sustainable practices in agriculture and water management. These projects are expected to help reduce the vulnerability of communities to climate-related risks, particularly in flood-prone and drought-affected regions.
Pakistan’s commitment to addressing climate change is part of the country’s broader environmental agenda, which includes implementing the National Climate Change Policy and integrating climate resilience into the development process. The agreement with ADB comes at a crucial time as the country continues to face challenges related to climate-induced floods, heatwaves, and water scarcity. The support from ADB will help Pakistan address these pressing issues and ensure that communities are better equipped to cope with future climate challenges.
The agreement further strengthens the long-standing relationship between Pakistan and the Asian Development Bank, which has been a key partner in supporting the country’s development goals. The ADB has provided significant assistance to Pakistan in various sectors, including energy, infrastructure, education, and disaster risk management, and this new partnership marks another important chapter in their collaborative efforts to build a more resilient and sustainable future for the nation.
With the signing of this agreement, Pakistan is taking a decisive step toward safeguarding its future against the growing threats of climate change and natural disasters, ensuring that the country is better prepared to face the challenges ahead.