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World Bank’s Country Director says Pakistan leading the world on climate action with highest CCBs in FY21

World Bank's Country Director says Pakistan leading the world on climate action with highest CCBs in FY21

Climate co-benefits (CCBs) refer to the share of the World Bank’s lending commitments that contributes to the climate action.

The World Bank’s (WB) Country Director to Pakistan, Najy Benhassine has revealed in a Twitter thread that Pakistan is taking some concrete steps to tackle the climate change issues in the country.

In a series of tweets, Najy revealed that World Bank new engagements in Pakistan, during the fiscal year FY21, had the highest climate co-benefits (CCBs) in the world in terms of absolute value, adding that the country has made the highest percentage of climate change commitments in South Asia.

Climate co-benefits (CCBs) refer to the share of the World Bank’s lending commitments that contributes to the climate action.

Benhassine further said that a total of “US$ 1.635 billion CCBs were achieved in Pakistan in FY21 which represent 44pc of the total US$ 3.696 billion IDA/IBRD financing approved for the country in FY21”.

The WB’s country director added that out of the above mentioned CCBs, 61 per cent will contribute towards mitigation while 39 per cent are tagged for adaptation measures.

Najy reiterated that the “World is committed to support the Government of Pakistan’s ambitious climate agenda”.

Meanwhile, Special Assistant to PM on Climate Change, Malik Amin Aslam on his twitter handle said that “climate vision of Pakistan under the leadership of Prime Minister Imran Khan was on the concrete ground which was acknowledged by the World Bank”.

Source: Mashable

 

 

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