Finance Minister Muhammad Aurangzeb is set to request $2 billion in climate financing from the International Monetary Fund (IMF) this week, according to sources in the Ministry of Finance. This request comes after a previous appeal was not deemed urgent by the IMF.
The Ministry of Finance has completed its preparations for discussions on the proposed financing, which will take place during a meeting with IMF Managing Director Kristalina Georgieva. In addition to the IMF discussions, Pakistan’s climate change project plans will be presented to the World Bank President.
Initial evaluation reports will be reviewed with IMF authorities following the completion of the current loan program and the achievement of its targets. Finance Minister Aurangzeb, along with the Finance Secretary and officials from the State Bank of Pakistan, will attend the IMF and World Bank meetings until October 26, with a return expected by the end of the week.
During his visit, the Finance Minister is also scheduled to meet with his counterparts from China, the United Kingdom, Saudi Arabia, the United Arab Emirates, and Turkey, aiming to strengthen financial and diplomatic ties.
