The Government of Pakistan and the Asian Development Bank (ADB) on Tuesday signed two major climate resilience initiatives worth 304.5 million for Singh and Punjab Provinces.
The Agreement signed for the Sindh Coastal Resilience Sector Project (SCRP) amounting to USD 180.5 Million, and the Punjab Climate Resilient and Low Carbon Agriculture Mechanization Project amounting to USD 124 Million, said a release issued here on Tuesday.
Muhammad Humair Karim, Secretary, Ministry of Economic Affairs, expressed his sincere appreciation for ADB’s role as a trusted development partner and its continued support to Pakistan in advancing climate resilience, sustainable agriculture, and inclusive growth.
He highlighted that the Sindh Coastal Resilience Project will promote integrated water resources and flood risk management, restore nature-based coastal defenses, and strengthen institutional and community capacity for strategic action planning.
The project, financed through USD 140.5 million from ADB (including USD 140 Million Loan and USD 0.5 million technical assistance grant), USD 40 million from the Green Climate Fund, and USD 20 million as counterpart funding from the Government of Sindh, will directly benefit over 3.8 million people in Thatta, Sujawal, and Badin districts.
He continued, the Punjab Climate Resilient and Low Carbon Agriculture Mechanization Project will enhance agricultural productivity and climate resilience across 30 districts of Punjab.
The project amounting to USD 129 Million, financed through USD 120 Million ADB Loan, USD 4 Million ADB grant, and USD 5 Million as counterpart funding from the Government of Punjab, will improve access of small farmers to climate-smart machinery, introduce circular agriculture practices to reduce residue burning, establish testing and training facilities, and empower 15,000 women through skills development and livelihood diversification.
The Secretary emphasized that both initiatives are transformative in nature as the Sindh Coastal Resilience Project will safeguard livelihoods, food security, and biodiversity along Sindh’s vulnerable coastal belt, whereas the Punjab Mechanization Project will drive sustainable, low-carbon agricultural growth and inclusive development.
Ms Emma Fan, Country Director, ADB, expressed appreciation for the Government of Pakistan’s strong commitment to these initiatives. She emphasized the significance of the Sindh Coastal Resilience Project in addressing climate-induced risks and protecting coastal communities, and highlighted the Punjab Mechanization Project as a critical step in modernizing agriculture and reducing emissions.
Both sides expressed their commitment to effectively utilize the financing for successful and timely completion of the two initiatives.