Islamabad: Pakistan will request an estimated $ 348 billion of investments between 2023 and 2030 to meet the challenges of climate change, the World Bank said. The urgent call for a comprehensive climate financing strategy comes as the country is wrestling with the increasing environmental risks and disasters.
In the fifth rank ranked fifth of the climate -based climate nation, Pakistan also faces severe disaster dangers, sitting in the twenty -third place in the Risk Index 2024, which measures disasters in 194 countries.
In 2022, destroyed floods affected 33 million people and explained 8 million, causing damage of 3.2 trillion rupee (about 14.9 billion dollars), equivalent to 4.8 % of the country’s gross domestic product for that year.
The World Bank report specifies 2022 the total investment needed to address climate and development issues in Pakistan by about 348 billion dollars, or 10.7 % of the cumulative GDP in the country from 2023 to 2030. This amount includes $ 152 billion to adapt to the climate and its broth, and 196 billion dollars. Deep carbon removal efforts.
Despite the recognition that the expected number is important compared to the historical development budgets of Pakistan – which reached an average of about $ 11 billion annually between 2011 and 2015 – the World Bank indicated that the actual investment need may be higher. This is due to the gaps in data related to critical transformations, including the development of sustainable agriculture, flood risk management systems, and climate -level infrastructure.
Earlier, the World Bank has committed to providing Pakistan for $ 20 billion over a period of ten years under its rural partnership (CPF), which aims to support sustainable development and flexibility. The framework gives priority several areas, including enhancing children’s nutrition by improving access to clean water, combating educational poverty by improving the quality of education, increasing the nation’s elasticity in floods and other disasters caused by the climate. In addition, CPF aims to increase financial capacity and enhance comprehensive investments to enhance Pakistan’s economic stability.
