Pakistan has signed a $500 million loan agreement with the Asian Development Bank (ADB) under the Climate and Disaster Resilience Enhancement Programme.
The programme aims to bolster Pakistan’s institutional framework for planning, preparations, and response to climate change and disasters while promoting inclusive investment.
It will introduce risk-based financing models to support innovative funding methods.
Additionally, the ADB has granted Pakistan $1 million to assist with the programme’s implementation. The agreement was signed by ADB Country director Emma Fan and Pakistan’s Secretary of Economic Affairs Kazim Niaz.
Reporter Waqas Azeem