IMF to Discuss $1B Climate Fund in Pakistan

The International Monetary Fund (IMF) is set to send a mission to Pakistan from February 24 to 28 to negotiate climate resilience funding under its Resilience and Sustainability Trust, potentially disbursing around $1 billion. This funding aims to support Pakistan's adaptation and transition to cleaner energy, addressing the country's significant vulnerability to climate change impacts, such as the devastating 2022 floods. A formal request for this funding was made by Pakistan in October 2022. Additionally, a separate IMF mission will review the country's $7 billion Extended Fund Facility in early March, part of Pakistan’s broader economic recovery efforts. The IMF's financial support is crucial for Pakistan, as the country grapples with economic challenges and a high debt burden exacerbated by climate disasters.