By ISLAMABAD: The United States Agency for International Development (USAID)/Pakistan on Wednesday introduced the Pakistan Climate Financing Activity, a four-year initiative with a budget of up to $10 million, dedicated to enhancing sustainability and climate resilience in Pakistan.
Funded by USAID, the program highlights the unwavering commitment of the US government to promote responsible management of natural resources and combat the climate crisis, aligning with the objectives outlined in the US-Pakistan “Green Alliance” framework.
The USAID Pakistan Climate Financing Activity aims to facilitate Pakistan’s transition to a low-carbon, climate-resilient economy. Through targeted technical assistance, the initiative seeks to mobilise both domestic and international finance from public and private sectors for climate mitigation, resilience, and adaptation endeavors.
According to sources, notable attendees at the launch event in Islamabad included representatives from the Ministry of Climate Change and Environmental Coordination, provincial government departments, private sectors, development partners, decision-makers from Pakistan’s financial sector, and academia.
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Meanwhile, USAID Deputy Mission Director Maura O’Brien, while addressing the audience, stressed the importance of supporting innovative projects tailored to Pakistan’s context, scaling up efforts to enhance climate resilience. She expressed confidence that the Pakistan Climate Financing Activity would bridge existing gaps and advance Pakistan’s ability to effectively respond to climate change through evidence-based solutions.
Furthermore, Special Coordinator from the Ministry of Climate Change and Environmental Coordination Romina Khurshid echoed USAID’s sentiments and welcomed the initiative as a means to strengthen Pakistan’s climate resilience, mitigation, and adaptation efforts.
She noted that while Pakistan has made progress in fostering an innovative climate landscape, financial constraints remain a significant challenge. Khurshid highlighted the activity as a catalyst for collaborative action, bringing together government, private sector, environmental experts, and development partners to address the challenges posed by climate change.
The USAID Pakistan Climate Financing Activity is aligned with USAID’s global flagship initiative to boost climate investment in vulnerable and emerging markets. By de-risking and catalysing climate finance in an equitable manner, this initiative aims to leverage both public and private sector investments to enhance Pakistan’s capacity for climate resilience and adaptation.
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