IMF Approves $1.3 Billion Climate Financing for Pakistan
The International Monetary Fund (IMF) will provide $1.3 billion to Pakistan under climate financing.
According to IMF Director of Communications Julie Kozak, discussions were held with Pakistan on the provision of separate funds under the Extended Fund Facility Program and climate financing.
The Director of Communications IMF further said that the discussions with Pakistan on climate financing were successful.
Pakistan will receive $1.3 billion under climate financing. Under climate financing, Pakistan will be provided with $1.3 billion over a period of 28 months.
Read more: IMF delegation to visit Pakistan to finalize the budget for the new fiscal year
A 37-month Extended Fund Facility program has been agreed with Pakistan in September. Pakistan is to receive $7 billion in installments under the EFF program.
On the other hand, the IMF will now monitor the federal budget for the next fiscal year 2025-26 and a key IMF delegation will visit Pakistan on April 4 to finalize the budget.
