ISLAMABAD: The federal government and the Asian Development Bank (ADB) have signed two important projects to combat climate change.

The spokesperson for the Ministry of Economic Affairs said that two projects worth $304.5 million have been signed between the Government of Pakistan and the Asian Development Bank. The main objective of the projects is to deal with the effects of climate change (promote climate resilience).

The spokesperson said that the $180.5 million Sindh Coastal Resilience Sector Project and the $124 million Punjab Climate Resilience and Agricultural Mechanization Project were signed and the agreements were signed by Secretary Economic Affairs Muhammad Hameer Karim and Country Director of the Asian Development Bank, Emafon.

He said that representatives of the governments of Sindh and Punjab also signed on behalf of the respective governments. The Asian Development Bank will provide a $140 million loan and a $0.5 million technical grant for the Sindh Coastal Resilience Project.

The Secretary for Economic Affairs said that the Sindh Coastal Resilience Project will directly benefit the districts of Thatta, Sujawal and Badin, while the Punjab Climate Resilience Project will boost agricultural production and environmental resilience in 30 districts of Punjab.

He said that the Asian Development Bank will provide a loan of $120 million and a grant of $4 million for the Punjab Climate Resilience Project, and the Punjab government will also provide $5 million for the project.

The Secretary for Economic Affairs said that under this project, small farmers will be provided better access to climate-smart agricultural machinery.

The Asian Development Bank’s Country Director said that the Sindh Coastal Resilience Project will play a key role in addressing the risks posed by climate change and protecting coastal populations.

He said that the Punjab Agricultural Mechanization Project is a very important step towards modernizing agriculture and reducing emissions.