Islamic Development Bank Group Commits to Supporting "Climate Resilient Pakistan" with US$4.2 Billion in Financing

Geneva, Switzerland, 9 January 2023 – Islamic Development Bank Group (IsDB) President and Group Chairman, H.E. Dr. Muhammad Al Jasser, announced a US$4.2 billion IsDB Group commitment to support Pakistan's climate resilience efforts and development agenda and the country vision 2025 over the next three years including US$ 600 ordinary capital resources from IsDB Group. He made the announcement today at the International Conference on Climate Resilient Pakistan in Geneva, addressing the devastating effects of Pakistan's recent floods.

"Climate change is not only an environmental concern but also a growing threat to sustainable development and poverty reduction in both the short and long terms," Dr. Al Jasser told a large audience of high-level dignitaries from several countries, international financial and development institutions, the private sector, civil society groups, and INGOs gathered to support the government of Pakistan's efforts in seeking solutions to various challenges brought about by the recent catastrophic flooding.

The United Nations and the Government of the Islamic Republic of Pakistan co-organized the International Conference on Climate Resilient Pakistan to mobilize international aid to help Pakistan rebuild better after the recent catastrophic floods. Pakistan is moving from the "rescue-and-relief" phase to the enormous task of "recovery, rehabilitation, and reconstruction."

"I would like to assure you that we will spare no effort to contribute to the implementation of your resilience agenda," HE Dr. Al Jasser told Pakistan's Prime Minister, HE Shahbaz Sharif.

He also expressed IsDB's Group commitment to supporting Pakistan in achieving strong, inclusive, and sustainable socio-economic progress through green, resilient, and sustainable infrastructure, strengthened human capital, and reinforced governance systems.

At the conference, the government of Pakistan presented the "Resilient Recovery, Rehabilitation, and Reconstruction Framework" (4RF) and sought international support and long-term partnerships for its implementation.