Pakistan seeks $26bn investment in 35 UNDP-backed projects

Pakistan sought global investment worth around $26 billion for 35 projects that UNDP helped prepare, according to Business Recorder. The projects span nine sectors, including agriculture, energy, transport, water and tourism, and were showcased at a two-day National SDGs Investment Fair. UNDP Pakistan's Deputy Resident Representative Van Nguyen said the financing gap for the SDGs equals roughly 16% of the economy's yearly output.

Nguyen argued that officials must demonstrate to backers the benefits on offer, rather than merely presenting their funding requirement. She added that investors should help define what would make their risks manageable, with UNDP positioned to bring both sides together. She also noted that tighter budgets and reduced aid mean public money alone cannot fund the gap.

Finance Minister Muhammad Aurangzeb, addressing the event virtually, said the economy had stabilised over three years and reached the basic hygiene needed for a conducive investment climate. He noted that foreign exchange reserves at the central bank hit a record $21.4 billion recently, covering three months of imports against roughly two weeks of cover three years earlier. He also said Pakistan needs help building capacity for the Climate Implementation Bridge, known as BRIDGE, and that it is one of the first six nations to sign it at COP31.