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Pakistan gets more than $10 billion in pledges at climate resilience conference

GENEVA: During an international conference on climate resilience, Pakistan on Monday obtained over $10 billion in promises from international financial institutions, donor agencies, and development partners for the rehabilitation, recovery, and reconstruction of flood-affected areas.

According to the state news agency, major pledges included $4.2 billion from the Islamic Development Bank (IsDB), $2 billion from the World Bank, $1.5 billion from the Asian Development Bank (ADB), $1 billion from the Asian Infrastructure Investment Bank (AIIB), and $1 billion from Saudi Arabia at the conference, which was co-chaired by Pakistan and the United Nations in Geneva, Switzerland.

The Pakistani delegation was led by Prime Minister Main Muhammad Shehbaz Sharif, who provided a detailed overview of Pakistan’s Resilient Recovery, Rehabilitation, and Reconstruction Framework (4RF), which outlined a multi-sectoral approach to rehabilitation and reconstruction in a way that was both inclusive and climate-resilient.

The delegation led by the prime minister included the Minister of Foreign Affairs, Bilawal Bhutto Zardari, the Minister of Finance, Ishaq Dar, the Minister of Planning, Ahsan Iqbal, the Minister of Climate Change, Sherry Rehman, and the Minister of Information and Broadcasting, Marriyum Aurangzeb.
Hina Rabbani Khar, the minister of state for foreign affairs, stated during the conference’s closing session that Pakistan’s bilateral and multilateral partners had made pledges totaling more than $9 billion. Several delegations made further announcements for in-kind contributions, she continued.

She said that at the meeting, the delegations remembered their support for the emergency relief efforts and reaffirmed their commitment to Pakistan’s people in support of a strong recovery, rehabilitation, and reconstruction. They voiced their sympathy and made financial pledges in support of continuing humanitarian activities as well as the achievement of the goals and priority areas listed in the 4RF.

According to the minister, Pakistan has experienced an unparalleled natural calamity since June 2022 as a result of a confluence of torrential rainfall, riverine, urban, and flash flooding. 33 million people were affected, more than 1,730 people lost their lives, 2 million homes were damaged, and hundreds of schools and hospitals were destroyed. According to estimates, the number of individuals living below the poverty line might rise by 9.1 million, increasing the country’s overall poverty rate. The tragedy disproportionately affects the most disadvantaged, making already preexisting health and food shortages worse.

World Bank Group, the Asian Development Bank, the European Union, and the United Nations agencies supported a Post-Disaster Needs Assessment (PDNA) that the Government of Pakistan led. Over 16 billion dollars are needed for recovery, according to the PDNA. These areas most affected included housing, agriculture, cattle, and the transportation and communication industries. The calamity had the greatest impact in Sindh, Balochistan, Khyber Pakhtunkhwa, and Punjab according to the minister.
The Core Group has assisted the Pakistani government in creating a resilient recovery, rehabilitation, and reconstruction framework based on the PDNA (4RF). She noted that the 4RF offers a comprehensive structure for organizing, funding, carrying out, and keeping track of Pakistan’s resilient recovery, rehabilitation, and rebuilding operations.

The meeting offered a chance to introduce the 4RF, garner international support, and establish long-term alliances for increasing Pakistan’s capacity for climate adaptation and resilience.

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