ISLAMABAD – International Monetary Fund (IMF) team will visit Pakistan next week to discuss $1 billion in climate financing.
Khurram Schehzad, advisor to Finance Minister, said that the team will arrive in Pakistan on February 24 to climate financing.
As per the media reports quoting the advisor, the IMF team will stay in Pakistan for five days to hold talks and review climate funding.
The financing will be made under IMF’s Resilience and Sustainability Trust which provides long-term concessional cash for climate-related spending.
Pakistan requested IMF last year for $1 billion in funding to address country’s vulnerability to climate change.
Pakistan secured a $7 billion IMF Extended Fund Facility last year to stabilize the economy. Another IMF team will visit Pakistan next month for first review of that funding.
