ED address at the International Conference on Climate Resilient Pakistan

Thank you Chair, Excellencies, Ladies and Gentlemen. 

On behalf of the Green Climate Fund, please allow me to express our deepest sympathy and solidarity with the People of Pakistan in these difficult times. 

To date GCF has committed USD 136 million, together with a total co-financing of USD 592 million toward climate-resilient development in Pakistan. These projects aim to enhance flood risk management, water management, climate-resilient agriculture, resilient transportation, and renewable energy systems.  

GCF has also a pipeline of almost USD 1 billion in Pakistan for 2023-24, with up to USD 209 million in GCF financing and USD 756 million in co-financing. This pipeline aligns with the Living Indus Initiative and the Resilient Recovery, Rehabilitation, and Reconstruction Framework Pakistan (4RF). Notably, two funding proposals that are focusing on integrated flood risk management (WWF and WFP) and should be ready for approval by the GCF Board in 2023.  

Several initiatives to catalyse private sector finance to complement public resources will also be explored. For example, work is progressing on an impact private equity fund (Acumen) targeting climate adaptation in the agriculture sector. 

Pakistan might also wish to join existing and planned GCF-supported multi-country programmes such as the ADB multi-country programme for community-level adaptation investments. 

GCF is planning a technical mission to Pakistan during the first quarter of 2023 to better understand country priorities and expedite its pipeline development in Pakistan. 

Thank you for your attention.