Pakistan and UNDP unveil $1 billion in climate-focused projects to attract investment

The United Nations Development Programme (UNDP), in collaboration with the Ministry of Climate Change and Environmental Coordination (MoCC&EC) and the Public-Private Partnership Authority (P3A), has identified five preliminary bankable projects valued at over USD 1 billion. These projects are designed to attract investment and climate financing to Pakistan.

The identified projects span key sectors, including green exports, bio-waste management, road infrastructure, domestic green private sector development, and green real estate. These sectors are considered vital to Pakistan’s sustainable development and climate resilience goals.

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a follow-up meeting with Dr. Samuel Rizk, UNDP’s resident representative in Pakistan. Dr. Rizk was accompanied by his team, who presented an overview of ongoing technical assistance aimed at developing projects with the potential for climate and development financing.

The discussion focused on finalising a portfolio of bankable projects that would enhance Pakistan’s participation in the upcoming 4th International Conference on Financing for Development (FfD4), set to be held in Spain later this year. 

Dr. Rizk acknowledged the Government of Pakistan’s leadership in promoting investment and climate financing in partnership with government stakeholders and development organizations.

Dr. Rizk also mentioned that a preparatory mission from the UN Department of Economic and Social Affairs (DESA) would visit Islamabad next week. This mission will assist in planning and capacity-building sessions with both federal and provincial governments, along with private sector partners, ahead of Pakistan’s participation in FfD4.

Minister Aurangzeb expressed gratitude for UNDP’s ongoing support in advancing Pakistan’s climate and Sustainable Development Goal (SDG) financing agenda. He reaffirmed the government’s commitment to a “whole-of-government” approach, instructing the Inter-Ministerial Committee, which includes officials from key ministries, to work together on creating an investment-attractive portfolio aligned with Pakistan’s climate resilience priorities.

The finance minister emphasized Pakistan’s commitment to collaborating with UNDP and other development partners to promote inclusive economic growth and enhance the country’s role in global climate and development financing.