Islamabad: In a high-level meeting today at Aiwan-e-Sadr, President Asif Ali Zardari emphasized the need for substantial climate finance to mitigate the severe impacts of climate change on Pakistan, particularly highlighting the devastation caused by the 2022 floods which affected the nation’s agriculture, education, and infrastructure sectors.
According to Pakistan Peoples Party, President Zardari discussed these pressing issues with Mr. Masatsugu Asakawa, the visiting President of the Asian Development Bank (ADB), in the presence of Senator Ms. Sherry Rehman and Senator Saleem Mandviwalla. The meeting focused on the economic damages inflicted by the war on terror and the climate-induced challenges faced by Pakistan.
Mr. Asakawa acknowledged the acute effects of climate change in Pakistan, including the accelerated melting of glaciers. He announced the ADB’s commitment to providing $2 billion annually over the next three years to aid Pakistan’s infrastructure development and enhance its climate resilience. He also noted the encouraging signs of economic recovery and stabilization in the country.