ADB Grants $500M to Strengthen Pakistan’s Climate Resilience

CT Report

MANILA:  The Asian Development Bank (ADB) has approved a $500 million loan to support Pakistan’s climate resilience and disaster response efforts. The Climate and Disaster Resilience Enhancement Program (CDREP) will improve disaster planning, gender-sensitive investments, and climate financing, including a green sukuk. The program introduces ADB’s first Contingent Disaster Financing in the region to provide rapid budget support during crises. An additional $1 million in technical aid will assist implementation.