ADB approves $500 mln loan to support climate resilience in Pakistan

A $500 million policy-based loan has been authorised by the Asian Development Bank (ADB) to help Pakistan reduce the risk of disasters and increase resilience to them.

According to an ADB press release received here on Tuesday, the Climate and Disaster Resilience Enhancement Program (CDREP) will boost inclusive investment in disaster risk reduction and climate resilience, support the expansion of disaster risk financing through a risk-layered approach, and fortify Pakistan’s institutional capacity for planning, preparedness, and response.

One of the nations in Asia and the Pacific most at risk from natural disasters and climate change is Pakistan. Every year, disaster-related losses average more than $2 billion. Disasters and climate change disproportionately harm women and other vulnerable groups.