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World Bank announces $535 million for climate change and agricultural uplift in Pakistan

ISLAMABAD: The World Bank has announced a $535 million funding package for Pakistan to address climate change impacts and enhance the country’s agricultural sector.

According to the World Bank’s official statement, the first project, valued at $400 million, will focus on mitigating climate change effects, particularly within Pakistan’s agriculture sector. These funds are intended to boost crop yields and shield the sector from climate-related challenges.

The second project, worth $135 million, aims to strengthen the livestock sector in Sindh, enhancing its resilience to climate change.

This financial aid from the World Bank is designed to support Pakistan’s efforts to tackle climate change challenges and promote sustainable agricultural practices.

Earlier, on June 11, the World Bank provided a significant relief measure for Pakistan’s struggling economy by approving $1 billion for the country.

The World Bank has also approved $1 billion for the construction of the Dasu Dam. This funding will facilitate the expansion of hydropower electricity supply, improve access to socio-economic services for local communities, and enhance the Water and Power Development Authority’s (WAPDA) capacity to develop future hydropower projects.

The Dasu Hydropower Project (DHP) is a run-of-river project on the Indus River, located about 8 km from Dasu Town, the capital of Upper Kohistan District in Khyber Pakhtunkhwa Province. Once completed, it will have an installed capacity of 4,320–5,400 MW.

It is worth noting that the World Bank has expressed its readiness to provide technical assistance and financial support to help Pakistan achieve its development goals.

Martin Raiser, South Asia Regional Vice President of the World Bank, stated that the World Bank Group is committed to supporting the Pakistani government in implementing its reform agenda.

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I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

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