The Government of Pakistan and the Asian Development Bank (ADB) have signed agreements for two projects worth a total of $304.5 million, aimed primarily at addressing the impacts of climate change.
According to sources, the main objective of these projects is to promote climate resilience. Agreements were signed for the $180.5 million Sindh Coastal Resilience Sector Project, while another agreement was signed for the $124 million Punjab Climate-Resilient and Agricultural Mechanization Project.
Sources said that Secretary Economic Affairs Mohammad Hameer Karim appreciated ADB’s role as a trusted development partner for Pakistan and its continued support in promoting climate resilience, sustainable agriculture, and inclusive development. He stated that the Sindh Coastal Resilience Project would play a key role in addressing climate change–induced risks and protecting coastal communities.
According to sources, the Secretary Economic Affairs said that for the Sindh Coastal Resilience Project, the Asian Development Bank will provide a $140 million loan along with a $0.5 million technical assistance grant. The project will directly benefit the districts of Thatta, Sujawal, and Badin.
He further said that the Punjab Climate-Resilient Project will enhance agricultural productivity and environmental resilience across 30 districts of Punjab. Reports indicate that for the Punjab Climate-Resilient Project, the Asian Development Bank will provide a $120 million loan and a $4 million grant, while the Government of Punjab will contribute $5 million to the project.
The Secretary Economic Affairs added that under this project, small farmers will be provided improved access to climate-smart agricultural machinery.
According to sources, the ADB Country Director said that the Sindh Coastal Resilience Project will play a crucial role in addressing climate change–related risks and protecting coastal populations, while the Punjab Agricultural Mechanization Project is a significant step toward agricultural modernization and emission reduction.
