UNDP Pakistan and the Finance Ministry of Pakistan presented a $2B portfolio on green financing and climate resilience at the Asia Pacific Forum on Climate Resilience, with Sharif Haroon highlighting SDG policy.
The Forum was co-organized by the incoming Egyptian Presidency of COP27 and the UN Climate Change High Level Champions for COP26 and COP27 and the secretariat of ESCAP. The forum showcased the success stories of private sector investments in climate areas and identified investment-ready climate initiatives in the region including those in the Nationally Determined Contributions of the Asia Pacific countries. The forum also highlighted current gaps in climate financing in the region and explore the potential sources of financing and how they can be accessed.
The Project Overview presented is as follows: The climate financing and SDGs Investments development facility portfolio is jointly let by the Ministry of finance, government of Pakistan and UNDP which compromises of a dedicated project development facility and climate financing unit tasked to mobilize and leverage investments for climate financing and SDGs in Pakistan. The facility identifies , develops and leverages partnerships for SDGs aligned priority projects of high development impact with the potential to attract investment from a variety of local and global sources including financing markets.
Project Timeline: 2022-2024
Financing: Blended finance investment US $2 billion ( 1year) and Facility US$3 million (for 3 years)
Climate impact: This facility is aiming to raise US$2-3 billion for blended finance to have impact in sectors such as energy, transports, carbon credits, and blue economy.
