MoCC Hosts GCF Delegation To Discuss Potential Cooperation Areas, Climate Finance Access

The Ministry of Climate Change (MoCC) has welcomed a delegation from the Green Climate Fund (GCF) to discuss potential areas of cooperation between the two entities, and enhance Pakistan's capacity to address climate change and access climate finance

ISLAMABAD, (UrduPoint / Pakistan Point News - 10th Mar, 2023 ) :The Ministry of Climate Change (MoCC) has welcomed a delegation from the Green Climate Fund (GCF) to discuss potential areas of cooperation between the two entities, and enhance Pakistan's capacity to address climate change and access climate finance.

"The GCF team will be in Islamabad till the 11th of March and will conduct various meetings and workshops with the stakeholders. The GCF team's visit to Pakistan is in response to the MoCC's request on behalf of the Government of Pakistan," a news release issued here said.

Federal Minister for Climate Change Senator Sherry Rehman received the delegation and highlighted the significance of the GCF team's visit to Pakistan. She acknowledged the GCF's valuable assistance to Pakistan, and stated, "This visit is a significant step towards building capacity and mobilizing resources to mitigate the impacts of climate change in our country.

"It will help us address the challenges related to accessing climate finance and developing project proposals that align with the Fund's rules and procedures." Senator Rehman emphasized the ministry's commitment to working with international partners, like the GCF, to combat climate change and promote sustainable development in Pakistan.

The GCF mission is headed by Carolina Fuentes, Director of Country Programming Division, and she is joined by Anupa Lamichhane, Amgad Elmahdi, and Hyejin Lee.

During their visit, the delegation met with the officials at MoCC. Relevant departments were also invited to participate in the discussions.

The mission's visit provides an opportunity for fruitful collaboration and technical assistance towards addressing the challenges faced by Pakistan in accessing climate finance and developing sustainable projects.

During their stay, the GCF team will conduct a workshop to equip participants with the necessary knowledge and skills to develop project proposals aligned with the Fund's rules and procedures and mobilize finance from public and private sources, the press release reads.

The workshop will focus on the accreditation process to the Fund and project development. In addition to this, the mission will have meetings with UN agencies and DAEs to discuss their pipeline projects and provide necessary technical assistance.

GCF has been instrumental in supporting Pakistan's environmental initiatives, with a current portfolio valued at US$ 135 million. To date, GCF has successfully funded four projects totaling US$ 0.9 million, while actively supporting a number of ongoing projects aimed at promoting sustainability and resilience across the country.

Among these ongoing projects, the Glacial Lake Outburst Flood (GLOF) initiative in Northern Pakistan, Green-BRT Karachi, and Transforming the Indus Basin, have received significant funding from GCF totaling US$ 134 million. GCF is committed to continuing its support for Pakistan's environmental initiatives, with a number of projects currently in the pipeline.

Notably, the Recharge Pakistan and Integrated Climate Risk Management for Strengthened Resilience projects are set to receive funding valued at US$ 60 million. Through these initiatives, the Government hopes to continue making a positive impact on the environment and fighting climate change, with the support of GCF.