IMF Reviews Pakistan’s Climate Project Appraisal for $1 Billion Funding

An International Monetary Fund (IMF) mission under the Resilience and Sustainability Facility (RSF) on Wednesday assessed Pakistan’s project selection and appraisal process across federating units for around $1 billion in concessional climate financing under the lender’s Resilience and Sustainability Trust (RST). The delegation met with officials at the Planning Division, including representatives from all provinces. The primary focus was to evaluate how climate resilience is integrated into development projects at the provincial level, reported a news daily. Provincial governments assured that they were adhering to the project’s planning manual. Khyber Pakhtunkhwa (KP) shared details about its dedicated Climate Change Cell which vets all development projects for climate resilience. The IMF delegation was brief that KP is also establishing a Climate Action Board. The lender’s team will continue its engagement over the next three weeks. It bears mentioning that Pakistan formally requested climate funding in October last year to enhance climate adaptation efforts.