ISLAMABAD: To increase the nation’s resilience to natural disasters and the effects of environmental crises, Pakistan and the Asian Development Bank (ADB) signed a $500 million loan agreement on Tuesday for the Climate and Disaster Resilience Enhancement Programme (CDREP).
Pakistan’s institutional capacity for planning, readiness, and reaction is to be strengthened under the program. The implementation of a risk-layered approach will facilitate the expansion of disaster risk finance while also encouraging equitable investments in climate resilience and catastrophe risk reduction.
The Economic Affairs Division (EAD) sent a press release stating that the deal was signed following approval by Federal Minister for Economic Affairs Ahad Cheema.
