FM urges global climate funds to speed up financing access

Finance Minister Senator Muhammad Aurangzeb urged international climate funds to ease their requirements and speed up access to financing, according to Mettis Global. He said Pakistan needs quicker support to cope with climate disasters and turn climate pledges into bankable investment projects. He made the remarks at the World Economic Forum meeting titled Financing Planet and Prosperity.

He highlighted how floods have harmed infrastructure and affected communities, and he described efforts to bolster disaster-response systems, early alerts and costed plans for climate investment. In New York, he noted that funds from the World Bank, the Asian Development Bank and global capital markets have supported relief, adaptation and rebuilding efforts. He stressed, however, that outside aid has to be matched by domestic resources and sufficient fiscal buffers.

He singled out the Green Climate Fund and the Loss and Damage Fund, asking them to streamline procedures, and he cautioned against complacency. Separately, he voiced support for the COP31 Action Agenda, saying it fits the country's climate objectives under NDC 3.0. He welcomed the proposed Climate Implementation Bridge, which he said could help turn NDC pledges into projects that can attract funding. He added that the difficulty now lies less in drafting climate plans and more in implementing them effectively.