International Monetary Fund (IMF) representative Mahir Binici said on Friday that climate change is inflicting enduring harm on Pakistan.
Speaking at a conference organised by the Sustainable Development Policy Institute (SDPI), Binici said the International Monetary Fund (IMF) has introduced the Resilience and Sustainability Facility (RSF) programme to help Pakistan face the growing challenges of climate change.
Under the RSF loan programme, Pakistan will receive $1.4 billion. The IMF representative added that Pakistan could continue to access funding through the RSF until 2027.
Binici emphasised that Pakistan now needs stronger protection against the effects of environmental change than ever before. He said that in the next financial year, Pakistan must give priority to projects in the development budget aimed at safeguarding the economy and communities from the impact of climate change.
He pointed out that the country must improve its water resource reserves and increase climate-related funding at both federal and provincial levels.
Binici welcomed the introduction of the carbon levy in Pakistan, describing it as a positive step towards sustainable development.
