SCCI (The Regional Business Organization of South Asia)’s Post

Federal Minister Ahsan Iqbal chaired a meeting in Islamabad to review Pakistan's post-flood reconstruction under the Resilient, Rehabilitation, and Reconstruction Framework (4RF). Key officials, including international representatives from the World Bank, ADB, UN, and EU, discussed ongoing projects and international financial pledges. Iqbal highlighted the devastating impact of the 2022 floods, which submerged a third of Pakistan, affected 33 million people, displaced eight million, and caused over $30 billion in economic losses. While $10.9 billion in international pledges have been made, a $5.3 billion shortfall remains for recovery. The session also addressed delays in Balochistan's reconstruction efforts and the need for swift action. The Integrated Flood Resilience and Adaptation Project (IFRAP) was reviewed, aiming to support rebuilding and climate resilience in affected areas. Iqbal stressed the importance of international collaboration and efficient implementation to ensure Pakistan is better prepared for future climate challenges. . . . . . . #initiatemagazine #initiate #initiator #PakistanFloods #Reconstruction #ClimateResilience #SustainableDevelopment #4RF #InternationalAid #DisasterRecovery #Balochistan

On Monday, the Asian Development Bank (ADB) and the government of Pakistan signed a $500 million policy-based loan to enhance climate change adaptation and disaster risk reduction efforts in the country. The agreement was signed by ADB Country Director Emma Fan and Secretary of the Economic Affairs Division (EAD), Kazim Niaz. The Climate and Disaster Resilience Enhancement Program aims to strengthen Pakistan’s institutional capacity for disaster preparedness, response, and planning. It will also promote inclusive investments in climate resilience and disaster risk reduction while supporting the scaling up of disaster risk financing through a risk-layered approach. The program will improve disaster risk mapping, coordination for monitoring and response, and the prioritization of gender-sensitive and resilient public investments, including flood risk management and nature-based solutions. Additionally, the program will mobilize climate finance from both public and private sources, including the issuance of a domestic green Sukuk (Islamic bond). A major innovation of the program is the use of ADB’s Contingent Disaster Financing for the first time in the Central and West Asia region, which will provide rapid budget support in the event of a disaster. The initiative will also help establish a solidarity fund to support risk transfer solutions like agricultural insurance and provide shock-responsive social protection, including cash assistance during disasters. ADB has also approved a $1 million technical assistance grant to support the program’s implementation, with the Ministry of Finance serving as the executing agency responsible for coordinating and monitoring the program. . . . . . . . . #InitiateMagazine #Initiate #Initiator #ADB #PakistanClimateResilience #DisasterRiskReduction #ClimateFinance #ClimateChangeAdaptation #PakistanGovernment #GreenSukuk #DisasterPreparedness #RiskTransferSolutions #SocialProtection #ClimateInvestments #PakistanFinance #ContingentDisasterFinancing #RiskLayeredApproach #AgricultureInsurance #GenderSensitiveInvestments #PublicPrivatePartnerships #NatureBasedSolutions #FloodRiskManagement #DisasterResilience

The Asian Development Bank (ADB) has approved a $320 million loan to support the rehabilitation of roads in Khyber Pakhtunkhwa, Pakistan. The project aims to enhance safe and all-weather connectivity in rural areas by upgrading around 900 kilometers of rural roads that are susceptible to floods and in poor condition. The project includes measures to incorporate climate-resilient design, road safety enhancement, and sustainable maintenance practices. ADB Director General Yevgeniy Zhukov stated that the project will reduce travel time, lower transportation costs, and increase access to economic opportunities for millions of residents in Khyber Pakhtunkhwa. The project will also offer technical and financial support to assist the government in preparing long-term targeted interventions that will enhance the climate resilience and sustainability of the province's road network. ADB Senior Transport Specialist Seunghyun Kim mentioned that the bank will help the government conduct a comprehensive study on flood susceptibility and landslide vulnerability across the province. Since 1966, ADB has committed over $52 billion in public and private sector loans, grants, and other forms of financing to promote inclusive economic growth in Pakistan. The project is expected to contribute to the sustainability of the road network and drive inclusive economic growth in one of Pakistan's most underserved regions. . . . #AsianDevelopmentBank #Pakistan #RoadRehabilitation #ClimateResilience #SustainableInfrastructure #tribunetrends

The Asian Development Bank (ADB) plans to invest $255 million in an electric railway project in Bangladesh, promoting environmentally friendly transport between Narayanganj and Joydebpur. Meanwhile, the World Bank (WB) is providing $250 million in grants to help the country recover from recent flood losses, supporting economic stability and disaster resilience. #InvestInYourFuture #MutualFunds #GreenDeltaDragon #FinancialFreedom #SmartInvesting

The Asian Development Bank (ADB) has approved a $320 million loan to support the rehabilitation of roads in the province of Khyber Pakhtunkhwa in Pakistan, enhancing safe and all-weather connectivity in rural areas, according to ADB statement. The Khyber Pakhtunkhwa Rural Roads Development Project will upgrade around 900 kilometers of rural roads in the province that are susceptible to floods and are in poor condition “Road transport is both a lifeline to the people and a key component of socioeconomic development in Pakistan. The vital infrastructure project will reduce travel time, lower transportation costs, and increase access to economic opportunities for millions of residents in Khyber Pakhtunkhwa,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “By providing better access to markets and services, we are empowering local communities and driving inclusive economic growth in one of Pakistan’s most underserved regions,” Zhukov added. Annual rainfall and temperature patterns have significantly increased in parts of the province, and the lack of resilient infrastructure escalated the impact of disasters on people and livelihoods. “ADB will help the government conduct a comprehensive study on flood susceptibility, with a focus on landslide vulnerability across the province, to identify priority roads,” said ADB Senior Transport Specialist Seunghyun Kim. Pakistan was a founding member of ADB. Since 1966, ADB has committed over $52 billion in public and private sector loans, grants, and other forms of financing to promote inclusive economic growth in Pakistan and improve the country’s infrastructure, energy and food security, transport networks, and social services. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region. #ADB #approves #loan #Pakistan #Rural #Roads #Development #Project #RahimYarKhan #NA171 #election #247newsupdate

The decision to increase the budget of the Ministry of Climate Change by 11 billion 82 crore rupees It has been decided to allocate 15 billion 62 crores for the Green Pakistan program. Photo: File Islamabad: It has been decided to increase the budget of the Ministry of Climate Change by 11 billion 82 crores, after which the budget will increase from 4 billion to 15 billion 87 crores. According to the sources, it has been decided to allocate 15 billion 62 crores for the Green Pakistan program in the new budget. The total cost of the project, which started in 2018, will be more than 125 billion rupees. In the past, the project was called Ten Billion Tree Tsunami, trees will be planted across the country. According to the sources, the cost of the project is estimated at 29 billion 56 crore rupees till June 30, 2024, while the expenditure on the project will increase to more than 45 billion rupees in the next financial year. The new budget also includes four other projects of the Ministry of Climate Change. 10 crore has been earmarked for the Ministry of Climate Change Capacity Building Project. #decision #increase #budget #Ministry #Climate #Change #billion #crore #rupees

The Asian Development Bank (ADB) announced on Tuesday its commitment to providing $2 billion annually to Pakistan over the next three years. ADB President Masatsugu Asakawa made this announcement during a meeting with President Asif Ali Zardari, who emphasized the urgent need for increased support to tackle climate change impacts. Zardari pointed out that the devastating 2022 floods significantly affected Pakistan’s economy, agriculture, education, and infrastructure. The meeting, attended by Senators Sherry Rehman and Saleem Mandviwalla, also addressed the economic challenges facing the inflation-stricken nation, highlighting the substantial damage caused by the ongoing war on terror. #ADB #Pakistan #ClimateChange #EconomicSupport #FloodRecovery

The decision to increase the budget of the Ministry of Climate Change by 11 billion 82 crore rupees It has been decided to allocate 15 billion 62 crores for the Green Pakistan program. Photo: File Islamabad: It has been decided to increase the budget of the Ministry of Climate Change by 11 billion 82 crores, after which the budget will increase from 4 billion to 15 billion 87 crores. According to the sources, it has been decided to allocate 15 billion 62 crores for the Green Pakistan program in the new budget. The total cost of the project, which started in 2018, will be more than 125 billion rupees. In the past, the project was called Ten Billion Tree Tsunami, trees will be planted across the country. According to the sources, the cost of the project is estimated at 29 billion 56 crore rupees till June 30, 2024, while the expenditure on the project will increase to more than 45 billion rupees in the next financial year. The new budget also includes four other projects of the Ministry of Climate Change. 10 crore has been earmarked for the Ministry of Climate Change Capacity Building Project. #decision #increase #budget #Ministry #Climate #Change #billion #crore #rupees

Clean water supports resilience in the West Bank

The decision to increase the budget of the Ministry of Climate Change by 11 billion 82 crore rupees It has been decided to allocate 15 billion 62 crores for the Green Pakistan program. Photo: File Islamabad: It has been decided to increase the budget of the Ministry of Climate Change by 11 billion 82 crores, after which the budget will increase from 4 billion to 15 billion 87 crores. According to the sources, it has been decided to allocate 15 billion 62 crores for the Green Pakistan program in the new budget. The total cost of the project, which started in 2018, will be more than 125 billion rupees. In the past, the project was called Ten Billion Tree Tsunami, trees will be planted across the country. According to the sources, the cost of the project is estimated at 29 billion 56 crore rupees till June 30, 2024, while the expenditure on the project will increase to more than 45 billion rupees in the next financial year. The new budget also includes four other projects of the Ministry of Climate Change. 10 crore has been earmarked for the Ministry of Climate Change Capacity Building Project. #decision #increase #budget #Ministry #Climate #Change #billion #crore #rupees