Islamabad, December 28, 2024 – The Europe Today: The Federal Ministry of Planning has announced the development of an alternative financing framework aimed at addressing the impacts of climate change in Pakistan. The initiative seeks to explore diverse financial sources for climate projects, reducing pressure on the national treasury while ensuring the sustainable completion of development projects.
The framework was discussed in a meeting chaired by Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal. He issued directives to the Ministry’s Climate Change Section to develop alternative programs focusing on climate change preparedness and disaster response.
The meeting highlighted plans to construct the Sindh Coastal Highway under a climate-resilient model to qualify for climate finance, addressing the severe climate risks faced by the region.
The ministry also revealed that reform initiatives under the IMF’s Sustainability Facility are being developed. These measures aim to ensure debt sustainability while promoting exports through emerging green value chains.
Additionally, the meeting deliberated on integrating financial management tools such as bonds, guarantees, and mixed financial models into national and sub-national development planning through a comprehensive framework.
