ISLAMABAD: An International Monetary Fund (IMF) delegation will soon visit Pakistan to negotiate a new concessional loan of $1.5 billion for mitigation of climate change damages.
According to media reports, Prime Minister Shehbaz Sharif had held discussion with the IMF managing director in this regard at a recent meeting held in Dubai. The IMF delegation will hold talks on the new climate change loan programme.
Officials say that Pakistan’s economy suffered a loss of $30 billion from climate change triggered floods two years ago. The IMF will help reduce the climate change losses in the new loan programme and will review measures and targets.
According to the officials, an economic review mission of the IMF will also reach Pakistan in early March to hold talks with officials for the next tranche of $1 billion out of the $7 billion loan programme. The team will be briefed on the economic performance from July to December.
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