In a bid to meet a crucial deadline of the IMF and protect funding from major multilateral agencies, the government has finalised a strategy. envisaging all future investments — including those coming through the newly formed Special Investment Facilitation Council — to be completely climate resilient.
PSDP, public-private partnership (PPP), and the SIFC are required to be reoriented for climate finance, innovative instruments, carbon credits, and accreditation with global fora.
One of the four key objectives of the ongoing $3bn Standby Arrangement (SBA) with the IMF requires Pakistan to build climate resilience given repeated cycles of extreme weather conditions and natural disasters. The adoption of ‘Climate-Public Investment Management Assessment (C-PIMA)’ and PIMA action plan by the federal cabinet is one of the three structural benchmarks to be achieved by the end of this year.
