IMF Team Arrives in Islamabad for $1B Climate Funding Talks
- Fahad Bin Khalid
- February 25, 2025
- 1:28 pm
- 33
- Current Affairs
IMF Pakistan Climate Funding Talks Begin in Islamabad
An IMF technical team has arrived in Islamabad for the IMF Pakistan climate funding talks. The team will discuss Pakistan’s request for over $1 billion under the Resilience and Sustainability Facility (RSF). The talks will focus on climate adaptation policies and a review of Pakistan’s economic reforms under the $7 billion Extended Fund Facility (EFF).
IMF’s Climate Funding Review in Pakistan
Over the next three weeks, the IMF team will assess Pakistan’s climate reforms. They will meet with:
- Key government ministries
- The Federal Board of Revenue (FBR)
- Provincial governments
- Disaster management authorities
This review will help determine Pakistan’s eligibility for the IMF’s climate funding. A full policy review will take place in early March.
Pakistan’s Climate Reform Efforts
Pakistan submitted the Climate-Related Public Investment Management Assessment (C-PIMA). This report outlines future climate investment plans and aligns them with IMF and World Bank guidelines.
IMF representative Mahir Binici stated that the mission will evaluate Pakistan’s climate adaptation strategies and check compliance with RSF requirements.
Why Pakistan Needs Climate Funding
Pakistan requested $1.2 billion in RSF funding last year. The country faces severe climate challenges, including floods, heatwaves, and droughts. The IMF suggests that Pakistan allocate at least 1% of GDP (around Rs1.24 trillion annually) for climate adaptation projects.
This funding will help reduce the impact of extreme weather and strengthen disaster resilience.
Expected Outcomes of the Talks
The IMF Pakistan climate funding talks will determine:
- Pakistan’s climate funding approval under RSF
- Necessary reforms for climate adaptation
- Future IMF financial support for disaster resilience
If successful, Pakistan will receive over $1 billion in climate funding. This will boost economic stability and help the country prepare for future climate disasters.
A Step Towards Climate Resilience
Pakistan’s government hopes that these talks will result in stronger financial support for climate reforms. The IMF Pakistan climate funding talks are a crucial step in ensuring Pakistan’s long-term sustainability.
This funding will help Pakistan combat climate change, protect vulnerable communities, and strengthen disaster management strategies.
