Notably, $60 million in funding was planned for the Recharge Pakistan and Integrated Climate Risk Management for Strengthened Resilience projects.
To discuss potential areas of cooperation with Pakistan and to improve Pakistan’s capacity to address climate change and access climate finance, a team from the Green Climate Fund (GCF) visited the nation.
The GCF team will be in Islamabad until March 11 and will meet with various stakeholders and hold workshops. In response to the ministry of climate change’s request, the GCF team visited Pakistan. The federal minister for climate change, welcomed the delegation and emphasised the importance of the GCF team’s visit to Pakistan.
She praised the GCF for its crucial assistance to Pakistan and said, “This trip is an important step in developing our nation’s capacity and mobilising resources to lessen the effects of climate change there. It will assist in addressing the difficulties associated with obtaining climate finance and creating project proposals that are compliant with the policies and guidelines of the Fund.”
She emphasised the ministry’s dedication to collaborating with foreign organisations like the GCF in Pakistan to fight climate change and advance sustainable development. Carolina Fuentes, Director of Country Programming Division, served as the mission leader for the GCF.
The delegation met with ministry representatives during their visit, and the relevant departments were also invited to participate in the discussions. The mission’s visit offered a chance for fruitful cooperation and technical support to address the difficulties Pakistan faced in obtaining climate finance and creating sustainable projects.
The Green Climate Fund team would conduct a workshop during their visit to give participants the knowledge and skills they need to create project proposals that are in line with the fund’s policies and procedures and raise money from both public and private sources.
The workshop’s main topics would be project development and the fund accreditation procedure. Additionally, the mission would meet with UN organisations and DAEs to talk about upcoming projects and offer any necessary technical support. With a current portfolio worth $135 million, GCF has played a significant role in assisting Pakistan’s environmental initiatives.
In addition to actively supporting a number of ongoing projects aimed at promoting sustainability and resilience across the nation, GCF has so far successfully funded four projects totaling $0.9 million.
These ongoing initiatives include Transforming the Indus Basin, Green-BRT Karachi, and the Glacial Lake Outburst Flood (GLOF) initiative in Northern Pakistan, all of which have received significant funding from GCF totaling $134 million. With several projects currently in development, GCF was still supporting Pakistan’s environmental initiatives.
Notably, $60 million in funding was planned for the Recharge Pakistan and Integrated Climate Risk Management for Strengthened Resilience projects. With GCF’s assistance, the government hoped that these initiatives would help it continue to have a positive impact on the environment and the fight against climate change.