ISLAMABAD: The Green Climate Fund (GCF) has announced $66 million in funding to support 'Recharge Pakistan, a project to enhance Pakistan's resilience to climate change by improving water systems and investing in green infrastructure.
Overall, this $77.8 million partnership is the largest-ever investment in an ecosystem-based approach to build Pakistan's climate resilience.
In addition to the GCF funding, the project is supported through a collective $12 million investment and technical support from The Coca-Cola Foundation, The US Agency for International Development (USAID), and WWF-Pakistan.
The 7-year project is designed to serve communities along the Indus Basin and is unique in its use of nature-based solutions for preparedness against high-risk climate disasters that Pakistan is increasingly vulnerable to.
Saadia Madsbjerg, President of The Coca-Cola Foundation, acknowledged the magnitude of the challenge, stating, "As we strive to address the far-reaching impacts of climate change in a populous nation like Pakistan, we must rely on collective creativity and a steadfast commitment. Recognizing that this is an inter-generational challenge, it is our duty to collaborate, invest our resources, and work tirelessly to create enduring solutions."
Recharge Pakistan is also among the largest grant contributions that The Coca-Cola Foundation has made to date in climate resilience and disaster preparedness.
Copyright Business Recorder, 2023
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