AVN 65.31 Decreased By ▼ -0.86 (-1.3%)
BAFL 30.25 No Change ▼ 0.00 (0%)
BOP 4.63 Decreased By ▼ -0.10 (-2.11%)
CNERGY 3.89 Decreased By ▼ -0.12 (-2.99%)
DFML 13.50 Decreased By ▼ -0.60 (-4.26%)
DGKC 42.15 Decreased By ▼ -1.54 (-3.52%)
EPCL 46.13 Increased By ▲ 1.48 (3.31%)
FCCL 11.45 Decreased By ▼ -0.38 (-3.21%)
FFL 5.19 Increased By ▲ 0.22 (4.43%)
FLYNG 5.82 Decreased By ▼ -0.28 (-4.59%)
GGL 10.04 Decreased By ▼ -0.34 (-3.28%)
HUBC 63.21 Increased By ▲ 0.91 (1.46%)
HUMNL 5.73 Decreased By ▼ -0.12 (-2.05%)
KAPCO 27.81 Increased By ▲ 0.26 (0.94%)
KEL 2.15 Decreased By ▼ -0.06 (-2.71%)
LOTCHEM 25.37 Decreased By ▼ -1.23 (-4.62%)
MLCF 21.65 Decreased By ▼ -0.87 (-3.86%)
NETSOL 84.95 Decreased By ▼ -1.25 (-1.45%)
OGDC 86.64 Increased By ▲ 0.37 (0.43%)
PAEL 10.96 Decreased By ▼ -0.31 (-2.75%)
PIBTL 4.21 Decreased By ▼ -0.07 (-1.64%)
PPL 78.65 Decreased By ▼ -1.43 (-1.79%)
PRL 13.61 Decreased By ▼ -0.05 (-0.37%)
SILK 0.88 Decreased By ▼ -0.02 (-2.22%)
SNGP 41.00 Decreased By ▼ -0.75 (-1.8%)
TELE 6.01 Decreased By ▼ -0.20 (-3.22%)
TPLP 16.02 Decreased By ▼ -0.25 (-1.54%)
TRG 111.89 Decreased By ▼ -0.66 (-0.59%)
UNITY 14.01 Decreased By ▼ -0.34 (-2.37%)
WTL 1.14 Decreased By ▼ -0.06 (-5%)
BR100 4,026 Decreased By -48.6 (-1.19%)
BR30 14,402 Decreased By -123 (-0.85%)
KSE100 40,451 Decreased By -396 (-0.97%)
KSE30 15,110 Decreased By -101.7 (-0.67%)
Pakistan

Pakistan needs massive investment to become climate resilient, FM tells US institution

  • Says there must be particular focus on infrastructure development and renewable energy
Published September 21, 2022
Follow us

Pakistan will require massive investment for climate resilience, Foreign Minister Bilawal Bhutto Zardari told US International Development Finance Corporation (DFC) CEO Scott Nathan in New York on Tuesday.

“Mobilising additional capital through institutions like DFC, including through coordinated efforts with other developmental finance institutions, is imperative to ensure that we adequately address the challenge of climate change,” Bilawal was quoted as saying in a press release issued by the Ministry of Foreign Affairs (MOFA).

First relief assistance flight from Russia lands in Karachi

DFC has developed a Climate Action Plan under which it will allocate 33% of its investments in climate-related projects from 2023 onward.

The Foreign Minister told Nathan about the devastating floods in Pakistan and the government's efforts to manage the crisis. He expressed gratitude for the flood relief assistance provided by the US government.

The foreign minister said “Pakistan wants to make economic and investment cooperation as one of the key pillars of Pak-US relationship. DFC has an important role to play in this regard”.

“Attracting investments in all sectors of Pakistan’s economy is the government’s top priority,” said Bilawal.

UNGA: PM Shehbaz highlights need for collective action on climate change

He laid special emphasis on empowering women economically and identified agriculture, infrastructure, energy and technology sector as priority areas.

He expressed the hope that DFC would consider tapping the tremendous investment opportunities in these sectors in Pakistan.

The foreign minister also invited Nathan to visit Pakistan, which he accepted.

Nathan expressed solidarity with the people and the government of Pakistan in the wake of the devastating floods and assured continued US support in managing the crisis.

He reaffirmed DFC’s interest in collaborating with Pakistan’s private sector and assured continuous engagement to identify projects ready for investment by US corporate sector.

According to its website, DFC invests across sectors including energy, healthcare, critical infrastructure, and technology. It also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets.

Floods in Pakistan have affected nearly 33 million people, sweeping away homes, crops, bridges, roads and livestock in damages estimated at $30 billion. The death toll from the floods has surpassed 1,500 people, while the number of injured people stands at 12,860, revealed statistics from the NDMA.

Comments

Comments are closed.

Pakistan needs massive investment to become climate resilient, FM tells US institution

Imran Khan to contest by-elections on all 33 NA seats: Qureshi

Ishaq Dar announces 35-rupee hike in prices of petrol and diesel

Gulf stocks rise on hope of slower Fed rate hikes

At least 41 killed as passenger coach falls into ravine in Lasbela

6.3 magnitude earthquake jolts Islamabad, surrounding areas

Ten children killed in northwest Pakistan boat capsize

Blinken arrives in Egypt as Middle East violence erupts

Former UN chief calls for climate action over ‘visions’ at COP28

Djokovic wins Australian Open to equal Nadal’s 22 Slam titles

China’s 2022 smartphone shipments the lowest in 10 years