World Bank classifies entire $375.9 million Pakistan grid project as climate finance

The World Bank has counted the entire $375.9 million Pakistan Grid Stability Enhancement Project package as climate finance, Profit by Pakistan Today reported. Its fiscal 2027 assessment allocates about $357.11 million, or 95%, to mitigation and $18.8 million, or 5%, to adaptation.

The main expense is $369.9 million for STATCOM devices, which help control voltage and strengthen transmission-grid stability. Of that amount, $351.41 million is classed as mitigation and $18.5 million as adaptation; another $6 million is assigned to technical assistance and implementation support. The bank also records $37.59 million as benefiting both climate goals, then splits that amount between the two categories for accounting purposes to avoid counting it twice. The project is part of the bank’s Energy and Extractives portfolio.