TRADE & ECONOMY
The Government of Pakistan and the Asian Development Bank (ADB) on Tuesday signed two major projects totaling $304.5 million aimed at promoting climate resilience and agricultural development in Sindh and Punjab.
The Sindh Coastal Resilience Sector Project, valued at $180.5 million, and the Punjab Climate Resilience and Agricultural Mechanization Project, worth $124 million, were signed by Secretary Economic Affairs Muhammad Hamir Karim and ADB Country Director EMAFAN. Representatives from the Sindh and Punjab governments also signed on behalf of their respective provinces.
Under the Sindh project, ADB will provide a $140 million loan along with a $0.5 million technical grant to strengthen coastal protection and resilience. The districts of Thatta, Sujawal, and Badin are expected to directly benefit from the project.
The Punjab initiative will enhance agricultural productivity and environmental resilience across 30 districts of the province. The project will provide small farmers with improved access to climate-smart agricultural machinery, with the Punjab government contributing $5 million.
According to the Economic Affairs Secretary, the primary objective of both projects is to promote climate resilience and support sustainable development while strengthening the capacity of vulnerable communities to adapt to climate challenges.