Following’successful’ climate finance negotiations, Pakistan will get $1.3 billion.

Julie Kozack, director of communications for the International Monetary Fund (IMF), announced Friday that $1.3 billion would be given to Pakistan as part of climate assistance.

Addressing a press conference, she claimed that talks were held with Pakistan on EFF (Extended Fund Facility) and climate financing. She emphasized that the climate finance negotiations were successful.

In 28 months, $1.3 billion in climate funding will be distributed, she said.

A 37-month EFF program for Pakistan was authorized in September of last year, she said.

According to Ms. Kozack, on March 25, a staff-level agreement was achieved for the fresh loan tranche for Pakistan. Following a successful evaluation process, Pakistan would get a $1 billion EFF tranche.