Sherry optimistic of IPSG assistant in ‘securing commitments’ for projects

ISLAMABAD: Minister for Climate Change Sherry Rehman, Thursday, expressed hope that International Partners Support Group (IPSG) would be helpful in “securing financial and other commitments for the implementation of climate resilient projects over the coming years.”

Presiding over the second IPSG meeting at the Prime Minister Office, she thanked the international partners for their “continued support and commitment towards building the climate resilient Pakistan.”

During the meeting, the Economic Affairs Division (EAD) gave a detailed briefing on the implementation status of foreign assistance pledges made during the International Conference on Climate Resilient Pakistan, held in Geneva, in January, this year.

The follow-up on the total pledges of $10.9 billion and its apportionment in specific projects were included in the briefing.

The EAD briefing suggested that there was now “almost complete clarity regarding the nature of the pledges made.”

The meeting was briefed that specific projects totalling $575 million were identified under Asian Development Bank’s (ADB’s) $1 billion pipeline funds, with a focus on enhancing flood resilience. Additionally, a negotiated amount of $400 million with the World Bank (WB) was allocated to the National Post-Flood Emergency Rehabilitation Project, while a separate agreement of $50.26 million with Islamic Development Bank (IsDB) established for the Sindh Integrated Health and Women Empowerment Project, according to the briefing.

The Ministry of Planning, Development and Special Initiatives, WB and United Nations Development Programme (UNDP) made a joint presentation on monitoring and evaluation system and flow of funds mechanism.

The Poverty Alleviation and Social Safety (PASS) Ministry presented an overview of the Benazir Income Support Programme’s (BISP’s) interventions focusing on the efforts to address nutrition issues following the floods.

Additionally, updates were provided on the ongoing reconstruction and rehabilitation endeavours in the housing sector of flood ravaged Balochistan.

A total of 70 billion rupees has been disbursed to support 2.8 million families across 84 districts affected by the floods, the ministry briefed the meeting.

It is pertinent to mention that the Ministry of Economic Affairs notified IPSG in March this year.

It is a 41-member group comprising federal ministries and international development partners.

Copyright Business Recorder, 2023