Islamabad: In a significant financial endorsement, the Asian Development Bank (ADB) has approved a $500 million policy-based loan aimed at bolstering Pakistan’s efforts to combat climate change and enhance disaster risk reduction and resilience. This initiative marks a pivotal step in the country’s ongoing battle against climate-induced challenges.
According to Ministry of Information and Broadcasting, the funds from this loan will be channeled into the Climate and Disaster Resilience Enhancement Program. This program is designed to significantly strengthen Pakistan’s capabilities in terms of institutional planning, preparedness, and response to disasters triggered by climate change. The ADB’s commitment reflects its support for Pakistan’s strategies to mitigate climate impacts and safeguard vulnerable communities against the increasing frequency of natural disasters.
This financial support from the ADB is part of broader international efforts to equip countries like Pakistan with the necessary resources and systems to effectively address and adapt to the adverse effects of global climate change.