Finance Minister Muhammad Aurangzeb will request $2 billion in climate financing from the International Monetary Fund (IMF) this week, finance ministry sources informed ProPakistani.
This request follows a previous one that was not considered as urgent by the IMF. Sources said the Ministry of Finance has completed its preparations for discussions on the proposed financing during a meeting with the IMF’s Managing Director Kristalina Georgieva.
Pakistan’s plans for climate change projects will also be discussed with the World Bank (WB) President, sources added.
Initial evaluation reports will be reviewed with IMF authorities following the completion of the current loan program and the implementation of its targets. The Finance Minister, accompanied by the Finance Secretary and officials from the State Bank of Pakistan, will attend the IMF/WB meetings until October 26 and is expected to return by the end of the week.
He is also expected to meet with his counterparts from China, the UK, Saudi Arabia, the UAE, and Turkey.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan