ADB approves US$500 million loan for Pakistan
The Asian Development Bank (ADB) has approved a $500 million loan to help Pakistan improve its ability to deal with climate change and reduce the risk of disasters.
The Climate and Disaster Resilience Enhancement Program (CDREP) will focus on strengthening Pakistan’s ability to plan for and respond to disasters, increasing investment in reducing disaster risks and building climate resilience, and improving disaster risk financing.
Pakistan faces significant challenges from climate change and natural disasters, with average losses from these events exceeding $2 billion per year in the region.