Pakistan, ADB sign $304.5m agreements for climate-resilience projects

ISLAMABAD: The government of Pakistan and the Asian Development Bank (ADB) have signed agreements for two projects worth $304.5 million.

According to the spokesperson for the Economic Affairs Division, agreements were signed for the 180.5 million-dollar Sindh Coastal Resilience Sector Project. In addition, a 124 million-dollar agreement was signed for the Punjab Climate-Resilient and Agricultural Mechanization Project.

The agreements were signed by Secretary Economic Affairs Muhammad Humair Karim and ADB Country Director Ema Fan. Representatives of the Sindh and Punjab governments also signed the agreements on behalf of their respective provinces.

For the Sindh Coastal Resilience Project, the Asian Development Bank will provide a loan of 140 million dollars along with a technical grant of 0.5 million dollars.

The Secretary Economic Affairs further said that the Sindh Coastal Resilience Project will directly benefit the districts of Thatta, Sujawal and Badin.

The Punjab Climate-Resilient Project will promote agricultural productivity and environmental resilience in 30 districts of the province. The Punjab government will also contribute 5 million dollars for the project.

Under the project, small farmers will be provided better access to climate-smart agricultural machinery. The primary objective of these projects is to promote climate resilience.

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