Pakistan to get $1.3 billion after ‘successful’ talks on climate financing

ISLAMABAD : International Monetary Fund (IMF) Director of Communications Julie Kozack said on Friday that Pakistan would receive $1.3 billion under climate financing.Addressing a press conference, she said that talks were held with Pakistan on EFF (Extended Fund Facility) and climate financing. The talks on climate financing were successful, she added.
She said that $1.3 billion of climate financing would be disbursed in 28 months.She said that a 37-month EFF programme for Pakistan was approved in September last year.
Ms Kozack said that the staff-level agreement for the new loan tranche for Pakistan was reached on March 25. After successful review negotiations, Pakistan would receive $1 billion tranche under the EFF.