ADB will give Pakistan $86.2 million for a sustainable aviation fuel plant.

Details indicate that the money will be utilized to create reliable aviation fuel supplies in the nation. There are plans to establish a private aviation fuel storage facility in Sheikhupura, Punjab.

The loan is part of the climate support framework, which is used to fund infrastructure projects. It is anticipated that the program will lower carbon emissions in the aviation sector.

On November 29, the Asian Development Bank (ADB) granted a $500 million loan to the State Bank of Pakistan (SBP).

This sum will be added to the foreign exchange reserves the following week, the SBP said. The SBP claims that this sum was provided by the ADB to address the effects of climate change in Pakistan.

The Asian Development Bank (ADB) authorized a US$500 million policy-based loan on October 29 to help Pakistan reduce the risk of disasters and increase its resilience to climate change.

The ADB insisted in a statement released here that the Climate and Disaster Resilience Enhancement Program (CDREP) will boost inclusive investment in disaster risk reduction and climate resilience, build up Pakistan’s institutional capacity for planning, preparedness, and response, and facilitate the expansion of disaster risk financing through a risk-layered approach.

In the face of climate change, Pakistan reaffirmed its commitment to safeguarding the rights and interests of children and youth at a recent event with UNICEF at the COP 29 Summit in Baku, Azerbaijan.