Pakistan, ADB Sign $304.5 Million Agreements for Climate Resilience Projects
Naeem Mehboob:
The Government of Pakistan and the Asian Development Bank (ADB) have signed agreements for two climate resilience projects worth $304.5 million, aimed at addressing the impacts of climate change and strengthening economic and environmental sustainability.
According to the Ministry of Economic Affairs, the agreements include a $180.5 million Sindh Coastal Resilience Sector Project and a $124 million Punjab Climate-Resilient and Agricultural Mechanization Project.
The agreements were signed by Secretary of Economic Affairs Muhammad Hamir Karim and ADB Country Director Emma Fan, while representatives of the Sindh and Punjab governments signed on behalf of their respective provincial administrations.
For the Sindh Coastal Resilience Project, ADB will provide a $140 million loan along with a $0.5 million technical assistance grant. The project is expected to directly benefit the districts of Thatta, Sujawal and Badin, helping protect coastal communities from climate-related risks.
The Punjab Climate-Resilient and Agricultural Mechanization Project will support agricultural productivity and environmental resilience across 30 districts of Punjab. Under this project, ADB will extend a $120 million loan and a $4 million grant, while the Punjab government will contribute an additional $5 million.
The project will improve small farmers’ access to climate-smart agricultural machinery, supporting sustainable farming practices and enhancing resilience to climate change.
ADB’s country director said the Sindh Coastal Resilience Project will play a key role in safeguarding coastal populations from climate change-induced threats, while the Punjab agricultural mechanization project represents a significant step toward modernizing agriculture and reducing emissions.
