USAID launches $10m climate financing initiative in Pakistan

ISLAMABAD   -  The United States Agency for Inter­national Development (USAID) Paki­stan on Wednesday launched the Pa­kistan Climate Financing Activity, an up to $10 million four-year endeavour aimed at bolstering sustainability and climate resilience in Pakistan. 

At the launch event held in Islama­bad, notable attendees included repre­sentatives from the Ministry of Climate Change and Environmental Coordina­tion, representatives from the provin­cial departments of the government of Pakistan, as well as representatives from the private sectors, development partners, decision-makers from Paki­stan’s financial sector, and academia. 

Addressing the audience, USAID Dep­uty Mission Director Maura O’Brien emphasised, “The USAID Pakistan Cli­mate Financing Activity will support innovative projects tailored to Paki­stan’s context, scaling up efforts to build climate resilience. Through ev­idence-based solutions, this activity aims to advance Pakistan’s capacity to respond to climate change effectively. I am confident that the Pakistan Climate Financing Activity will bridge gaps and fulfil existing needs – and ultimately advance Pakistan’s capacity to respond to climate change effectively.” 

Echoing USAID’s sentiments, Coor­dinator to Prime Minister on Climate Change Romina Khurshid stated, “The government of Pakistan warmly wel­comes this initiative from the Unit­ed States, aimed at bolstering our na­tion’s climate resilience, mitigation, and adaptation efforts. While Paki­stan has made strides in fostering an innovative climate landscape, financial constraints remain a significant im­pediment. This activity will serve as a catalyst for concerted action, bringing together government, private sector, environmental experts, and develop­ment partners to tackle the challenges posed by climate change.” 

The USAID Pakistan Climate Financ­ing Activity aligns with USAID’s glob­al flagship initiative to enhance climate investment in vulnerable and emerg­ing markets. By de-risking and cata­lyzing climate finance equitably, this initiative aims to leverage both public and private sector investments to forti­fy Pakistan’s capacity for climate resil­ience and adaptation. 

Funded through USAID, this initiative underscores the steadfast commitment of the US government to foster respon­sible stewardship of natural resources and combat the climate crisis. It rep­resents a significant stride towards fulfilling the objectives outlined in the US-Pakistan “Green Alliance” frame­work. 

The USAID Pakistan Climate Financ­ing Activity will help facilitate Paki­stan’s transition to a low-carbon, cli­mate-resilient economy. Through targeted technical assistance, the in­itiative aims to mobilise public and private, domestic and international finance for climate mitigation, resil­ience, and adaptation efforts.

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