{"id":21671,"date":"2024-11-21T09:17:17","date_gmt":"2024-11-21T09:17:17","guid":{"rendered":"https:\/\/theasiantelegraph.global\/?p=21671"},"modified":"2024-11-21T09:17:18","modified_gmt":"2024-11-21T09:17:18","slug":"uk-pakistans-partnership-is-growing-stronger-tackling-global-challenges-falconer","status":"publish","type":"post","link":"https:\/\/theasiantelegraph.global\/?p=21671","title":{"rendered":"UK & Pakistan\u2019s partnership is growing stronger, tackling global challenges, Falconer"},"content":{"rendered":"\n
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World-leading climate initiatives to be developed through \u00a3108m in Pakistan<\/p>\n\n\n\n

Islamabad :- Minister for the Middle East, Afghanistan and Pakistan, Hamish Falconer, announced a new \u00a3108 million climate finance programme. This funding will encourage new climate technologies and private sector investment, benefitting both the planet and Pakistani businesses.<\/p>\n\n\n\n

Recognizing the global threat posed by climate change, this first-of-its-kind programme will be delivered in partnership with the International Finance Corporation (IFC). As the largest single country blended finance facility, it will invest in local businesses to help them develop the technologies and meet the significant investments needed to adapt to the threats Pakistan faces from climate change. <\/p>\n\n\n\n

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The UK and IFC will then reinvest any profits from projects back into the facility, financing even more climate solutions. The programme will leverage the \u00a3108m the UK puts in to mobilise 5-6 times that amount of investment from the private sector.<\/p>\n\n\n\n

The launch event, held in Islamabad, was also attended by Muhammad Aurangzeb, Federal Minister for Finance and Revenue, Ali Pervaiz Malik, Minister of State for Finance, Revenue, and Power and Musadik Masood Malik, Federal Minister for Water Resources.<\/p>\n\n\n\n

Announcing the new funding in Islamabad, Minister for the Middle East, Hamish Falconer said: <\/p>\n\n\n\n

\u201cThe UK and Pakistan have a long history of working together to tackle tomorrow\u2019s threats today. That\u2019s why we\u2019re investing in the expertise needed and supporting local businesses, alongside the Government of Pakistan, to get ahead of the challenges that climate change poses to the Pakistani people and the world.  <\/p>\n\n\n\n

\u201cFrom my own time working as a diplomat in Pakistan to now returning as a Minister, it\u2019s clear that the UK and Pakistan\u2019s partnership continues to go from strength to strength and is essential in tackling shared global challenges.\u201d   <\/p>\n\n\n\n

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IFC Country Manager for Pakistan & Afghanistan, Zeeshan Sheikh, said: <\/p>\n\n\n\n

\u201cThis facility reflects IFC\u2019s commitment to supporting Pakistan\u2019s climate resilience and adaptation efforts. We are pleased to be partnering with the UK on an innovative facility that will help crowd-in much needed private investment.\u201d <\/p>\n\n\n\n

\u201cAs a leading global investor in climate finance, IFC aims to leverage its experience and catalyze private sector financing for climate-smart investments in Pakistan and build a sustainable climate finance ecosystem.\u201d<\/p>\n\n\n\n

Today\u2019s announcement follows the launch of the British High Commission, Pakistan supported Cost of Inaction Report, which highlights the estimated cost of inaction on climate change for Pakistan is over one trillion dollars over the next 25 years. <\/p>\n\n\n\n

The announcement marks the conclusion of a two-day visit to Pakistan by Hamish Falconer, Minister for the Middle East.<\/p>\n\n\n\n

The Minister also met with Pakistan’s Foreign Minister and Deputy Prime Minister, Ishaq Dar, and Interior Minister, Mohsin Naqvi, to discuss shared values and address common challenges, including and regional and global security.  He met with Pakistan’s National Assembly Speaker, Sardar Ayaz Sadiq, and the Federal Minister for Law and Justice, Azam Tarar, to promote the importance of democracy and fundamental freedoms.<\/p>\n","protected":false},"excerpt":{"rendered":"

World-leading climate initiatives to be developed through \u00a3108m in Pakistan Islamabad :- Minister for the Middle East, Afghanistan and Pakistan, Hamish Falconer, announced a new \u00a3108 million climate finance programme.… <\/p>\n","protected":false},"author":8,"featured_media":21673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,13],"tags":[332,202,1950,1750,103,1965,1966,985],"class_list":["post-21671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-main-stories","tag-british-foreign-secretary","tag-british-high-commission-pakistan","tag-british-secretary-of-the-state","tag-environmental-journalists-forum-ejf-islamabad","tag-federal-minister-for-finance","tag-international-finance-corporation-ifc","tag-minister-of-state-for-finance","tag-ministry-of-climate-change-mocc-pakistan"],"_links":{"self":[{"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/posts\/21671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21671"}],"version-history":[{"count":1,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/posts\/21671\/revisions"}],"predecessor-version":[{"id":21675,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/posts\/21671\/revisions\/21675"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=\/wp\/v2\/media\/21673"}],"wp:attachment":[{"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theasiantelegraph.global\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}