Pakistan, IMF begin talks on securing additional $1bn for climate action
A technical mission of the International Monetary Fund (IMF) is set to begin crucial talks in Islamabad on today regarding Pakistan’s request for over $1 billion in additional financing to combat climate change.
The discussions come as part of the IMF’s Resilience and Sustainability Facility (RSF) arrangements, which provide long-term financing for climate resilience projects.
The talks will continue for three weeks, followed by a broader policy review early next week to assess Pakistan’s performance under the ongoing $7 billion Extended Fund Facility (EFF).
High-level engagement
The IMF technical team is expected to hold meetings with key ministries, including Planning, Finance, Climate Change, Petroleum, and Water Resources, as well as the Federal Board of Revenue (FBR), disaster management agencies, and provincial governments.
Mahir Benisi, the IMF’s resident representative in Islamabad, confirmed that discussions are ongoing but did not provide further details. Meanwhile, an IMF staff team is scheduled to visit Pakistan in mid-March to conduct the first review of the EFF-supported program and further assess Pakistan’s request for RSF assistance.
