President for ADB support to address Climate Change impacts

President Asif Ali Zardari has emphasized that Pakistan’s climate finance needs are substantial and called for increased support from the Asian Development Bank to address the impacts of climate change.

He expressed these views while talking to the visiting President of Asian Development Bank Masatsugu Asakawa, who called on him, in Islamabad today.

The President highlighted that the severe climate changes and devastating floods of 2022 had a profound impact on the country’s economy as well as on its agriculture sector, educational and road infrastructure.

The President briefed the ADB President about the economic and climate-related challenges being faced by Pakistan. He added the war on terror has inflicted significant economic damage on the country.

Asif Ali Zardari appreciated the support of ADB towards the socio-economic development of Pakistan. He also thanked the President ADB for assisting Pakistan in the wake of the 2022 floods.

ADB President Masatsugu Asakawa said Pakistan is facing severe effe
cts of climate change, particularly with glaciers melting at an accelerated pace. He said the ADB would provide two billion dollars in annual assistance to Pakistan over the next three years and reaffirmed the bank’s commitment to supporting infrastructure development and climate-resilient initiatives.

Additionally, he commended the recent signs of economic recovery and stabilization in Pakistan.

Source: Radio Pakistan