ISLAMABAD – Pakistan is expected to receive approximately $700 million from the International Monetary Fund (IMF) to tackle climate change.
The IMF officials said that the Executive Board is scheduled to meet on May 9, where the mission’s recommendations for releasing the next tranche under the loan program to Pakistan will be reviewed.
The sources said that if the Executive Board approves the recommendations, the next installment will be released to Pakistan by May 12.
IMF officials further stated that during the meeting, approval for releasing the first tranche of funds to address the impacts of climate change will also be discussed.
The sources indicated that if the climate-related funding is approved, Pakistan is likely to receive around $700 million.
It is worth noting that the visiting IMF delegation has already recommended the release of $1.1 billion to Pakistan under the next tranche of the ongoing loan program.
