KARACHI: The World Bank pledged $728 million in loans to promote climate-resilient development in Pakistan that has incurred $18 billion in losses due to adverse impact of climate change during the past decade.
The financial support was envisaged for four projects related to water, environment and cities, the bank said in a statement late on Friday. International Development Association, the concessional financing arm of the World Bank, is funding all the four projects.
The projects will protect the environment, improve the quality of life in cities and promote sustainable water management through efficient irrigation, robust weather forecasting and improved disaster preparedness.
“The projects offer wide ranging support to address climate vulnerability and variability by strengthening institutions and systems and investing in priority infrastructure in rural and urban areas,” the statement quoted Illango Patchamuthu, World Bank’s country director for Pakistan as saying. “Millions of Pakistanis will benefit from improved irrigation, weather services, and resilience to natural disasters. At the same time, Punjab’s cities will benefit from investments to improve infrastructure and local services while protecting its environment.” Hydro-met and disaster risk management services project with a loan allocation of $188 million will help the country deliver more reliable and timely weather forecasting and disaster risk management services. The project will help increase preparation for and resilience to natural disasters and climate change, as well as improve water management for agriculture.
The second Sindh barrages improvement project will be allocated with $140 million in additional financing to help improve the reliability and safety of the Guddu and Sukkur barrages and strengthen the provincial irrigation department’s ability to operate and manage them. The rehabilitation and modernisation of Sukkur barrage will provide reliable water supply to 14 canals and reduce floods.
The project will also ensure the barrage’s capacity to safely pass floods up to 1.3 million cusecs. The newly-established Barrage Monitoring Unit will supervise the operation.
The third $200 million Punjab green development program will strengthen the province’s environmental management through empowering its departments to provide better environmental services to citizens and the private sector, with a focus on strengthening the capacity of the Environment Protection Department.
The project will help modernise laws and regulations and promote investments in cleaner technologies to reduce air and water pollution.
The fourth project, namely Punjab cities program will get $200 million in financing to strengthen local governments’ ability to deliver basic and green infrastructure. The project will benefit 4.1 million people in 16 urban areas as well as build systems to improve transparency, accountability, and responsiveness of municipal committees and other structures.
The World Bank said Pakistan suffered $18 billion losses between 2005 and 2014 due to the adverse impact of climate change. Alone 2010 floods caused $10.5 billion in economic losses.
The World Bank has provided $33.4 billion in assistance and grants to Pakistan since 1950.
The current World Bank’s portfolio includes 41 projects with a net commitment of seven billion dollars, focusing energy, private sector development, inclusion, and service delivery.