Pakistan Eyes $1 Billion IMF Funding for Climate Resilience

Pakistan seeks $1 billion in funding from the IMF's Resilience and Sustainability Trust to manage climate change impacts. Amid economic struggles and debt, the country is also discussing a Panda bond issuance in China's market, aiming to diversify its funding sources.

Pakistan is pursuing around $1 billion in funding from the IMF to mitigate climate change impacts, Finance Minister Muhammad Aurangzeb revealed during the IMF/World Bank meetings.

The $1 billion request complements an existing $7 billion bailout and would be sourced from the Resilience and Sustainability Trust, which supports climate adaptation efforts.

Furthermore, Pakistan is in negotiations with the Asian Infrastructure Investment Bank for credit enhancement, marking a strategic step into China's capital markets via a Panda bond issuance.

(With inputs from agencies.)