ISLAMABAD (Agencies) – The United Kingdom has announced a groundbreaking funding initiative worth £108 million to support Pakistani businesses in combating the challenges posed by climate change. The funding was unveiled by Minister for the Middle East, Hamish Falconer, during his official visit to Pakistan.
This significant financial support will enable local Pakistani businesses to develop climate technologies and expertise aimed at mitigating the effects of climate change. The program, described as a first-of-its-kind initiative, will be delivered in partnership with the International Finance Corporation (IFC), a member of the World Bank Group.
The funding is expected to have a transformative impact on the Pakistani economy, creating over 100,000 new jobs while fostering the development of climate-resilient technologies. This move underscores the UK’s commitment to helping Pakistan tackle the global climate crisis, while promoting sustainable development in the region.
Through this partnership, Pakistani businesses will be better equipped to implement green solutions, reduce environmental risks, and increase their capacity to adapt to the ongoing challenges of climate change.