ISLAMABAD: The federal government and the Asian Development Bank (ADB) have signed agreements for two crucial projects aimed at combating the impacts of climate change.
According to a statement from the Ministry of Economic Affairs, the two projects, valued at a combined total of $304.5 million, aim to promote climate resilience and mitigate the adverse effects of climate change.
The projects include the Sindh Coastal Resilience Sector Project, valued at $180.5 million, and the Punjab Climate Resilient and Agricultural Mechanization Project, valued at $124 million. The agreements were signed by Secretary of Economic Affairs, Mohammad Hameer Karim, and the ADB Country Director, Emmafan, with representatives from the provincial governments of Sindh and Punjab also signing on behalf of their respective governments.
Under the Sindh Coastal Resilience Project, ADB will provide a loan of $140 million and a technical grant of $0.5 million. The project will directly benefit the coastal districts of Thatta, Sujawal, and Badin in Sindh.
The Punjab Climate Resilient Project, on the other hand, aims to promote agricultural productivity and environmental resilience across 30 districts of Punjab. The ADB will contribute a loan of $120 million and a grant of $4 million, while the Punjab government will provide an additional $5 million for the project.
This initiative is set to improve access to climate-smart agricultural machinery for small farmers, enabling them to better cope with the changing climate.
The ADB’s Country Director also emphasized the importance of these projects, stating that the Sindh Coastal Resilience Project will play a vital role in addressing climate-related risks and protecting coastal populations. Meanwhile, the Punjab Agricultural Mechanization Project is a critical step toward modernizing agriculture and reducing emissions.
Comments are closed.