$77.8mn funding secured for Recharge Pakistan project: Sherry Rehman

Funding of $77.8 million has been approved for Recharge Pakistan, a project that aims to build the country’s climate resilience and water security, Federal Minister for Climate Change Sherry Rehman announced on Tuesday.

“Good news for Pakistan! Our Recharge Pakistan project, which will be implemented over the next seven years, has been approved today for funding of $77.8mn,” said Rehman in a post on Twitter.

The minister highlighted that the funding includes $66 million from Green Climate Fund (GCF) resources and co-financing of around $11.8 million.

GCF was established in 2010 by 194 countries party to the UN Framework Convention on Climate Change. It is designed as an operating entity of the Convention’s financial mechanism and is headquartered in South Korea.

“This adaptation project aims to initiate ecosystem-based adaptation interventions that will store flood water in wetlands, floodplains and depressions (green infrastructure) at several priority sites,” said Rehman.

Recharge Pakistan is a joint collaboration by GCF, World Wildlife Fund (WWF) and the Government of Pakistan. As per information available on the WWF website, the project aims to build Pakistan’s climate resilience and water security through cost-effective ecosystem-based adaptation.

“The project will increase water storage and recharge through wetlands, floodplains, and hill-torrents management; promote climate-adapted community-based natural resource management and livelihoods; and forge a paradigm shift to scale up this approach,” read the website.

Last week, Rehman during a high-level meeting with a delegation led by Sultan Ahmed Al Jaber, President-designate of COP28 and UAE’s Minister of Industry and Advanced Technology, said a “critical gap” in resources for adaptation and mitigation has been identified by multilateral agencies -amounting to $348 billion or 10.7% of cumulative GDP by 2030.

Despite this, Pakistan is committed to a green energy transition, whereby it will transfer 60% of its energy needs to renewables by 2030 and reduce its projected emissions by 50% until 2030, Rehman said.

Pakistan is actively involved in transitioning the country towards the renewable energy sector and is seeking partnerships in the alternative and renewable energy sector, the minister added.