Islamabad (TDI): Finance Minister Muhammad Aurangzeb will request the International Monetary Fund (IMF) to provide $2 billion in climate financing this week, finance ministry sources said.
This is the second request of such nature. The first one was not deemed urgent by the IMF.
The sources added that the ministry has made preparations for discussions with IMF Managing Director Kristalina Georgieva.
Read More: IMF Releases $1 Billion to Pakistan
“Pakistan’s climate change projects will also be discussed with the World Bank (WB) President,” the source added.
The Finance Ministry’s renewed demand comes weeks after the international lender released the first tranche of $1 billion to Pakistan as part of a new $7 billion loan program under the Extended Fund Facility, aimed at addressing the country’s financial challenges.
Read More: IMF Approves $7 Billion Loan for Pakistan
The global lender approved the loan program in the last week of September, more than two months after both parties initially reached an agreement.
This loan program, which will be disbursed to Pakistan over a period of 37 months, is intended to provide a much-needed boost to the country’s wilting economy.
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