Islamabad: President Asif Ali Zardari has called for increased support from the Asian Development Bank (ADB) to bolster Pakistan’s resilience against the harsh impacts of climate change. This appeal was made during a meeting with ADB President Masatsugu Asakawa at Aiwan-e-Sadr, underscoring the urgent climate finance needs to mitigate the severe effects of recent environmental disasters on the nation’s economy.
According to Press Information Department, President Zardari detailed the extensive economic and infrastructural damage inflicted by the 2022 floods, affecting sectors from agriculture to education and roads. The discussion also touched upon the economic strain caused by the long-standing war on terror. Expressing gratitude for ADB’s ongoing support, Zardari highlighted the crucial role of international partnerships in addressing these multidimensional challenges.
ADB’s Asakawa recognized the significant climate adversities facing Pakistan, particularly the accelerated melting of glaciers. He reiterated ADB’s commitment to providing substantial aid, outlining a $2 billion annual assistance package for the next three years aimed at enhancing Pakistan’s climate resilience and supporting infrastructure development. Asakawa also acknowledged the positive signs of economic stabilization in the country, signaling a hopeful outlook for recovery and sustainable development.